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Following the recent Decree of the Presidency of the Republic of Turkey dated 13 September 2018, (Decree No: 85) that bans to use foreign currencies in contracts between Turkish residents, the Ministry of Treasury and Finance issued the Communiqué numbered 2018-32/51 on October 6, 2018, (the “Communique”) that clarifies implementation of the Decree and clarification of certain exemptions.
15 Ağustos 2018 günü 30510 sayılı Resmi Gazete’de yayınlanan Finansal Sektöre Olan Borçların Yeniden Yapılandırılması Hakkında Yönetmelik’in 5’inci maddesi kapsamında Türkiye Bankalar Birliği tarafından hazırlanan Finansal Yeniden Yapılandırma Çerçeve Anlaşması Bankacılık Düzenleme ve Denetleme Kurumu tarafından onaylanarak yürürlüğe girdi.
With the recent amendment, Central Bank of Turkey starts to monitor the foreign currency positions of metropolitan municipalities, municipalities, public economic enterprises and universities.
Ministry of Trade published “Communiqué on the Rules and Procedures Regarding the Implementation of Article 376 of the Turkish Commercial Code".
Presidency of the Republic of Turkey issued a new Presidential Decree (Decree No: 85) in the Official Gazette dated 13 September 2018 and numbered 30534, which brings prohibition to use foreign currencies in contracts between Turkish residents (the “Amendment”).
This legal alert seeks to provide information regarding the recent amendment to Initial Public Offering of Non-Public Companies under the Equity Communiqué No. VII-128.1.
This legal alert aims to introduce the recent amendments on Decree No. 32 and Communiqué regarding Decree No. 32 adopted by the Council of Ministers and Undersecretariat of Treasury of Republic of Turkey.