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Q2/2009 Foreign currency loans and foreign currency indexed loans to Turkish natural person and legal entities |
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Decree No. 32 Regarding the Protection of Value of Turkish Currency was amended on 16 June 2009. The most noteworthy change is the addition of a new provision which enables Turkish banks to provide foreign currency loans to Turkish residents provided that the average maturity of each loan is more than one year and the loan amount is more than USD5mn. On the other hand, following these amendments Turkish residents can now only obtain foreign indexed loans from Turkish banks for commercial or professional purposes, which means that Turkish banks can no longer provide foreign indexed consumer loans.
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