The Capital Movements Circular ("Circular") has been amended with the letter of Ministry of Treasury and Finance of Republic of Turkey numbered 1130224 and dated April 14, 2022 and the scope of the 19th article regarding the loans received from abroad has been extended.
Pursuant to the amendment, it has been made possible to pay and use the foreign currency loan received from abroad in one or more foreign currencies other than the foreign currency determined in the loan agreement. The Central Bank cross rates on the date of transfer will be used in the calculations if the currency specified in the loan agreement and the currency paid to the loan borrower is different.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.