ERDEM-NEWSLETTER-2018-metin

187 CAPITAL MARKETS LAW and sale of the securities and other capital market instruments from abroad that residents in Turkey are free to purchase and buy leveraged instruments, or the derivative financial instruments that are subject to the same provisions with the leverage transactions, only through the institutions that are authorized by the Capital Markets Board. In addi- tion, in Article 11 of the said Communique No. 2008-32/34, detailed provisions are provided in relation to the foreign currency incomes and loan balances with regard to the foreign exchange loans to be ob- tained, domestically or from abroad, by residents in Turkey. Communiqué Numbered 2018-32/45 The above-mentioned Communiqué numbered 2018-32/45 de- termines two types of authorized establishments, those identified as Group A and Group B, and determines the framework of authoriza- tion. Accordingly: Group B authorized institutions may engage in below-stated ac- tivities: • Purchasing and selling foreign currencies, except for deposit monies; • Exchanging foreign currencies, except for deposit monies with smaller or larger reduction of print pastes with foreign currencies, except for different types of deposit monies; • Purchasing cheques paid by foreign currency pursuant to the procedures and principles determined by the Central Bank; • Purchasing and selling printed gold produced by the General Directorate of Mint and Stamp Print House, and standard, unprocessed gold shaped as bars and bullion; and • Purchasing and selling foreign currencies, and exchanging with foreign currencies of the same kind, by transfers made through means of banking with the banks, authorized insti- tutions and customers; on the condition that a transfer order is granted, or physical delivery subject to the transaction, is made within the same work day.