With the regulation amendment prepared by the Ministry of Trade, the scope of authority regarding the sale of goods and services by installment, excluding housing sales, has been reorganized. The amendment, which entered into force upon its publication in the Official Gazette, has expanded the scope of the Ministry's ability to make decisions regarding the determination of installment periods and the imposition of additional restrictions.
The regulation amended Article 12/B of the Regulation on Principles and Rules to be Applied in Retail Trade, dated August 6, 2016. While the first and second paragraphs of the article were renewed, the third, fourth, and fifth paragraphs were repealed.
According to the new provisions, the Ministry of Trade will be able to determine installment periods or impose additional restrictions on the sale of goods and services by installment, excluding housing sales. This authority will also cover the installment of debt for a fee after the sale and periods during which payment is deferred.
Whether the sale is made with or without the issuance of negotiable instruments will not create a difference in terms of the application of the regulation. Thus, it is envisaged that decisions regarding installment and payment deferral will cover a wider range of transactions.
Decisions on installment periods and additional restrictions to be taken by the Ministry will be announced on the Ministry of Trade's website and sent to upper professional organizations. The regulation amendment does not directly set a new number of installments or a time limit; decisions on these matters are expected to be taken separately.
The regulation entered into force as of October 15, 2026, the date it was published in the Official Gazette. The Minister of Trade will execute the provisions of the regulation.
News Source: 12punto
