Business

Foreign currency-indexed securities will be sold in Turkish Lira

The Ministry of Treasury and Finance made two critical adjustments in the legislation to protect the value of the Turkish lira. Except for foreign currency-indexed vehicle sales contracts, payments will be made in Turkish Lira.

Until now, residents in Turkey were able to decide on the price and the resulting payment obligations in foreign currency or indexed to foreign currency in the sales contracts other than vehicles to be concluded among themselves. With the Communiqué, it was obligatory to make and accept the payment obligations regarding the contracts in TL.

Another important change was made in public contracts. It was possible to decide, pay and accept the contract price and other payment obligations in foreign currency or indexed to foreign currency in contracts other than real estate sales and rentals to which public institutions and organizations and Turkish Armed Forces Foundation companies are parties. In these public contracts, foreign currency or foreign currency indexed payments can be made and accepted.

Source: Sabah / Translated by Irem Yildiz

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