Communiqué on Redetermination of Minimum Equity Amounts of Payment and Electronic Money Institutions (“Communiqué“) which was issued by the Central Bank of the Republic of Turkey has been published in the Official Gazette dated 28.01.2023 and numbered 32087.
The Communiqué amends the minimum equity requirement amounts set for certain institutions in Article 33(1) of the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”), which entered into force upon publication in the Official Gazette dated 1.12.2021 and numbered 31676.
The minimum equity requirement amounts of three million Turkish liras for payment institutions providing payment services, five million Turkish liras for other payment institutions excluding those providing payment services exclusively under subparagraph (g) of the first paragraph of Article 4, and thirteen million Turkish liras for electronic money institutions in Article 4(1)/e of the Regulation, have been amended as follows pursuant to the Communiqué:
- Five and a half million Turkish liras for payment institutions providing the payment services referred to in subparagraph (e) of the first paragraph of Article 4,
- Nine million Turkish liras for other payment institutions, except for payment service providers exclusively included in subparagraph (g) of the first paragraph of Article 4,
- Twenty-five million Turkish liras for electronic money institutions.
The Communiqué will enter into force on 30.06.2023 and the amounts in question will be effective from this date.
You may reach the full Turkish text of the Communiqué via the link below.