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Amendments made to the Capital Movements Circular

April 08, 2021
Fatoş Otcuoğlu Selin Bayar, Managing Partner, Pekin Bayar Mizrahi
Fatoş Otcuoğlu Selin Bayar, Managing Partner, Pekin Bayar Mizrahi
Posted in Financial institutions Banking and finance

The Ministry of Treasury and Finance of the Republic of Turkey amended the Capital Movements Circular to introduce (1) monitoring obligations by Turkish banks of offshore money transfers, and (2) to expand exemptions for Turkish residents’ relating to the obligation to bring foreign loan proceeds to Turkey.

Click here to access more information on this topic from Selin Bayar and Fatoş Otcuoğlu at Pekin Bayar Mizrahi, in alliance with Norton Rose Fulbright in Turkey.