Decision Amending the Decision No. 32 on The Protection of the Value of the Turkish Currency Published
The Presidential Decision Amending Decision No. 32 on the Protection of the Value of the Turkish Currency (Amendment) was announced in the Official Gazette dated 15.03.2025 and numbered 32842.
With the Amendment;
- It was announced that Turkish currency exceeding 185,000 TL could be taken abroad upon declaration through a cash declaration form. Before this amendment, the threshold was set at 25,000 TL.
- It was stated that the purchase and sale of all kinds of derivative instruments, including futures and options contracts, from abroad can be made through banks and intermediary institutions authorized by the Capital Markets Board (CMB), provided that the fund transfer is made through banks. However, it has been highlighted that provided no promotional, advertising, or marketing activities are directed at residents in Türkiye, derivative transactions carried out by residents in Türkiye with foreign financial institutions at their discretion will not be required to be executed through banks and intermediary institutions. However, the funds related to such transactions must be transferred through banks.
- It is stated that leveraged transactions and derivative transactions determined to be subject to the same provisions as leveraged transactions can only be carried out through institutions authorized by the CMB and that persons other than institutions authorized by the CMB cannot intermediate these transactions and cannot make transfers abroad about these transactions.
- As collateral for foreign currency or precious metal-denominated loans obtained domestically by Turkish residents, the Turkish resident group companies of the borrowers or their real or legal person partners who directly own their shares are allowed to provide guarantees and sureties in foreign currency or precious metals to banks and financial institutions resident in Türkiye for these loans.
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