The Ministry of Treasury and Finance (“Ministry”) has published an announcement on its official website and on its social media account regarding the Communiqué (Communiqué No: 2022-32/66) Amending the Communiqué on the Decree No. 32 (Communiqué No: 2008-32/34) on the Protection of the Value of Turkish Lira published in the Official Gazette dated 19.04.2022

Within the scope of this announcement, the Ministry drew attention to some important issues regarding the amendment made in the the Communiqué on Decision No. 32 with the Communiqué No. 2022/32-66:

  • The term “movable” covers all kinds of goods and securities other than real estate. However, it has been highlighted that the amendment did not change the current status of vehicle sales contracts. It is also stated that this amendment is related to the payment obligations regarding the movable sales contracts concluded between the persons residing in Turkey and there is no obligation to fulfil the payment obligations regarding the movable sales contracts concluded between the persons residing in Turkey and the persons not residing in Turkey.
  • In respect of the performance of movable sales contracts concluded before 19.04.2022 between the persons residing in Turkey, the payment obligations arising from the negotiable instruments issued in foreign currency, that have entered into circulation before 19.04.2022 shall not be required to be fulfilled in Turkish Lira. On the other hand, it has been stated that it is not possible to use checks and similar payment instruments issued in foreign currency on 19.04.2022 and after this date, in fulfilling payment obligations arising from the vehicle sales contracts concluded or to be concluded between the persons residing in Turkey.
  • There is no obligation to fulfil the payment obligations arising from the invoices issued before 19.04.2022, in Turkish Lira.
  • There is no obligation to fulfil the payment obligations within the scope of precious metals and precious stone purchase and sale transactions carried out in foreign currency and exchange of these transactions made in Borsa İstanbul A.Ş. Precious Metals and Precious Stones Market, in Turkish Lira.

You can access the press release (in Turkish) published on the official website of the Ministry from the link below:

https://www.hmb.gov.tr/duyuru/turk-parasi-kiymetini-koruma-hakkinda-32-sayili-karara-iliskin-2008-32-34-sayili-tebligde-degisiklik-yapilmasina-dair-2022-32-66-sayili-teblige-iliskin-duyuru

Pelin Tırtıl Esin
Naz Ergörün
Associate | naz.ergorun@bener.com
Behiç Ateş Gülenç
Associate | ates.gulenc@bener.com