Turkey FinTech Guide 2023 (“Guide”), designed as an introductory document for the Turkish fintech ecosystem and a guiding resource for fintech startups and investors, has been published by the Finance Office of the Presidency of the Republic of Turkey. The guide consists of two parts. The first part covers the factors that will bring Turkey...
Communiqué (Communiqué No: 2023-32/67) Amending the Communiqué (Communiqué No: 2008-32/34) Regarding the Decision No: 32 on the Protection of the Value of Turkish Currency (“Amending Communiqué”) has been published in the Official Gazette dated 23.02.2023 and numbered 32113. The second sentence of paragraph 2 of Article 6 of the Communiqué (Communiqué No: 2008-32/34) Regarding the...
The Regulation Amending the Regulation on the Fees to be Charged under the Law No. 1567 on the Protection of the Value of Turkish Currency (“Amending Regulation”) has been published in the Official Gazette dated 23.02.2023 and numbered 32113. The definition of “Refinery” has been added to the first paragraph of Article 3 of the...
Regulation Amending the Regulation Regarding the Receipt and Distribution of Official Announcements and Advertisements in Electronic Medium (“Amending Regulation”) has been published in the Official Gazette dated 01.02.2023 and numbered 32091. The provision of the Regulation Regarding the Receipt and Distribution of Official Announcements and Advertisements in Electronic Medium (“Regulation”) regarding the distribution of official...
The Central Bank of the Republic of Turkey’s (“CBRT”) Guidelines on Data Sharing Services for Payment Services (“Guidelines”) has been published on December 30, 2022. Article 12, paragraph 1 of the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions (“Law“) added the following two main services to the...
The Regulation on Official Announcements and Advertisements (“Regulation“) of the Directorate General of the Press Advertisement Agency (“Directorate“), which aims to determine the qualifications and duties of periodicals in which official announcements and advertisements will be published and to ensure their distribution without discrimination of opinion and jurisprudence, was published in the Official Gazette dated...
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...
The Communiqué (Serial No: 22) Amending the General Communiqué of the Financial Crimes Investigation Board (Serial No: 5) (“Amending Communiqué”) has been published in the Official Gazette dated 14.01.2023 and numbered 32073. The General Communiqué of the Financial Crimes Investigation Board (Serial No: 5) (“Communiqué”) stipulates life insurances relating to which obliged parties may conduct...
Regulation Amending the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism (Decision Number: 6702) (“Amending Regulation”) has been published in the Official Gazette dated 14.01.2023 and numbered 32073. Pursuant to the Regulation on Measures to Prevent Laundering Proceeds of Crime and Financing of Terrorism (“Regulation”), which was put into...
The Network and Information Systems (NIS) 2 Directive (“NIS 2 Directive”) has been published in the Official Journal of the European Union (“EU”) on 27 December 2022. The NIS 2 Directive aims to strengthen, expand and harmonise the existing cybersecurity framework in the EU. The NIS Directive (Directive 2016/1148/EC) (“NIS 1”) which the NIS 2...
