Recent Developments
The Communiqué (No. 2025/23) Amending the Communiqué on Maximum Interest Rates Applicable to Credit Card Transactions (No. 2020/16) (“Amendment Communiqué”) was published in the Official Gazette dated September 18, 2025, numbered 33021, and has entered into force.
What does the Amendment Communiqué introduce?
With the Amendment Communiqué, the additional margin to be added to the monthly reference rate when determining the maximum contractual interest rate applicable to Turkish lira-denominated cash withdrawals and cash advances via credit cards has been reduced from 164 basis points to 139 basis points.
Additionally, it has been decided that the relevant monthly reference rates will be announced by the Central Bank of the Republic of Türkiye on September 24, 2025, and will be implemented as of October 1, 2025.
