ERDEM-NEWSLETTER-2018-metin

188 NEWSLETTER 2018 On the other hand, Group A authorized institutions may engage in the below-stated activities, in addition to the areas of activity of the Group B institutions: • Importing and exporting of precious stones, standard and non-standard unprocessed precious metals, and making tran- sactions related to the precious metals and stones maintained in the Stock Market under the provisions of related regulati- ons and legislation, on the condition that the institution is a member of the Stock Market; • Purchasing and selling foreign currencies, and exchanging with the foreign currencies of the same type by means of ins- titutions that can make transfers with the banks, authorized institutions and customers, on the condition that a transfer order is granted, or physical delivery subject to the transacti- on, is made within the same work day; • Acting as electronic money establishments and representati- ves of paying agents; • In the event that Undersecretariat of Treasury grants permissi- on, purchasing and selling foreign currency and related tran- sactions by means of money machines in the head offices and/ or branches and other places that are deemed to be appropriate; • Purchasing and selling foreign currency up to ten thousand United States dollars by means of pre-payable cards and wit- hout any limit of amount by means of bank cards; • Dispatching foreign coins Turkish Lira treasury notes overseas under the procedures and principles that shall be determined by the Undersecretariat of Treasury, and with permission of the Undersecretariat of Treasury; and, • Carrying out other activities that are deemed to be appropri- ate by the Undersecretariat of Treasury. Both type A and type B institutions are limited to the above- mentioned areas of activities. Permission of the Undersecretariat of Treasury is necessary for the establishment of the said institutions. Moreover, in Communiqué No. 2018-32/45, various terms of founda-