The Regulation on the Amendment to the Regulation on Bank Cards and Credit Cards is published
The Regulation on the Amendment to the Regulation on Bank Cards and Credit Cards entered into force through publication in the Official Gazette dated 25.09.2020 and numbered 31255.
With the amendments, the provisions of the Regulation on Bank Cards and Credit Cards (“Regulation”) has been brought into compliance with the provisions regarding the “distance agreements” under the Law No. 5464 on Bank Cards and Credit Cards. In this regard, the terms of “permanent data storage unit” and “distant communication tool” are defined under the Regulation.
Additionally, the institutions conducting clearing and settlement activities are excluded from the scope of the Regulation.
Another important amendment is the certain notification obligations of the member businesses, regarding the information on its sub-businesses, for the cases when the member business allows its sub-business to use the POS services. Such notification shall be addressed to the institution which is a party to the member business agreement.
Please find the Turkish version of the Regulation here.
All rights of this article are reserved. This article may not be used, reproduced, copied, published, distributed, or otherwise disseminated without quotation or Erdem & Erdem Law Firm's written consent. Any content created without citing the resource or Erdem & Erdem Law Firm’s written consent is regularly tracked, and legal action will be taken in case of violation.
Other Contents
Following the publication of The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) regarding the Decree No:32 on Protection of the Value of Turkish Currency (“Communiqué No. 2022-32/66”) in the Official Gazette...
The Communiqué No. 2022-32/66 Amending the Communiqué No. 2008-32/34 (“Communiqué”) regarding the Decree No:32 on Protection of the Value of Turkish Currency was published in the Official Gazette dated 19 April 2022 and No. 31814...
The Communiqué (III-42.1) on Remote Identification Methods to be Used by Intermediary Institutions and Portfolio Management Companies and...
Following the publication of the Official Gazette dated 04.02.2022 and numbered 31740, the Banking Regulatory and Supervisory Authority (“BRSA”) made amendments regarding the banking sector which...
Pursuant to the Communiqué on the Re-determination of Minimum Equity Amounts of Payment and Electronic Money Institutions (“Communiqué”) which is published in the Official Gazette dated 22.01.2022 and numbered...
TR QR Code Period in Payment Services is Commencing
Announcement of the Banking Regulation and Supervision Agency dated 08.12.2020
Amendment to the Regulation on Procedures and Principles concerning Monitoring of Transactions Affecting Foreign Exchange Position by Central Bank of Republic of Turkey
Amendment to the Communiqué on the Procedures and Principles Regarding the Fees that Banks Can Charge Their Commercial Clients
The Regulation on Prevention Plans to be Prepared by Systemically Important Banks is published
The Period of the Low Withholding Rates Related to Deposit Interest and Dividends Paid by Participation Banks are Extended
Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Environment is Published
Regulation on Not Using Crypto Assets in Payments is published
General Communiqué of the Financial Crimes Investigation Board is Published
Amendment to the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism
Communiqué on Portfolio Management Companies was Amended
The Implementation of Credit Rating is Postponed to December 31st
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Regulation on Sharing of Confidential Information was Published
RUSF Rate for the Loans Obtained from EBRD and IFC
Amendment to the Regulation on the Procedures and Principles Regarding the Classification of Loans and Provisions to be Set Aside for Them
Amendment to the Regulation on Loan Operations of Banks
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Withholding Rate on Earnings from Shares of Venture Capital Investment Fund and Real Estate Investment Fund Participation Shares Held for More than Two Years Has Been Reduced to 0%
The Period of the Application of Low Withholding Rates on Deposit Interest and Dividends Paid by Participation Banks are Extended
The Communiqué on the Amendment to the Communiqué on Mandatory Reserves is published