Recent Developments
The Central Bank of the Republic of Türkiye (“CBRT”) introduced a new exception to foreign currency loan restrictions with the amendment made to the Capital Movements Circular on December 11, 2025 (“Amendment”).
What’s New?
With this Amendment, Turkish residents who win sale and liquidation tenders conducted by the Savings Deposit Insurance Fund (“SDIF”) in respect of the companies subject to confiscation are granted the opportunity to utilize foreign currency loans to finance the performance of Turkish lira denominated share purchase agreements.
Accordingly, the amount of such foreign currency denominated loan shall not exceed the total purchase price specified in the share purchase agreement, which shall be calculated using the CBRT’s foreign exchange selling rate on the date of utilization, and the original copies of pages indicating the parties, subject, amount, date, and signature blocks of the share purchase agreements shall be submitted to (a) the lending bank/financial institution if the loan is utilized domestically, or (b) to the intermediary bank/financial institution if utilized from abroad.
Conclusion
With this Amendment, a significant exception has been introduced that allows FX loan financing in sales and liquidation tenders conducted by the SDIF.
