New implementation directive from the Central Bank to banks

The Central Bank's Communiqué on Amendments to the Communiqué on Maximum Interest Rates to be Applied in Credit Card Transactions has been published in the Official Gazette. With the implementation directive sent by the Central Bank to banks, the TL share targets applied to natural and legal persons have been updated.

Accordingly, a monthly increase target has been introduced for the legal person TL share of banks. Previously, there was no monthly increase target for the legal person TL share, and it was required to maintain the level as of August 18, 2023.

In addition, the monthly increase targets for the natural person TL share, which were determined differently according to the banks' TL share levels, have been updated, and the commission rate to be applied in case the targets are not met has been increased.  

The implementation will be effective as of today.