Banks not to give loan unless applicants sign paper committing they won’t use it to buy foreign currency

Banks that received a warning from the BRSA to prevent the purchase of foreign currency, crypto currency or shares with loans in Turkish lira found the remedy to make the customer sign a commitment. Accordingly, those who want to use a loan will be asked to commit that they will not get foreign currency with said loan

Transactions that are contrary to the purpose of using the loan in the commitment are listed as follows: Foreign exchange and gold purchase transactions, investments aimed at providing financial returns such as term deposits, repos, stocks, closing other overdue credit risks, transferring abroad and transferring to crypto assets or outside the capital market.