- in Turkey
- within International Law topic(s)
- with readers working within the Pharmaceuticals & BioTech industries
On 30January2025, Central Bank of the Republic of Türkiye (CBRT) published the Communiqué on the Reassessment of Minimum Equity Amounts for Payment and Electronic Money Institutions.
Consequently, minimum equity amounts for the payment and electronic money institutions operating under Law No. 6493 on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions have been increased as follows:
- For payment institutions exclusively providing intermediary services for payment of utilities and other household billsfrom TRY10,000,000 toTRY 15,000,000,
- For other payment institutionsexcept for those exclusively providing consolidated information on users' payment accounts held with different payment service providers via online platforms from TRY20,000,000toTRY30,000,000, and
- For electronic money institutionsfrom TRY55,000,000 toTRY80,000,000.
Increased amounts will enter into force on 30June2025 and accordingly, licenced payment and electronic money institutions shall comply with increased minimum amounts by increasing their equities.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
