Installment limitation on credit cards in Turkey

The Banking Regulation and Supervision Agency (BRSA) has abolished installment payments on credit cards for airlines, travel agencies and accommodation-related expenses abroad.

In the statement of the BRSA, it was decided that the installment periods applied on credit cards should not be applied to airlines, travel agencies and foreign expenses related to accommodation. The expenses in question will no longer be able to be calculated in installments.

The statement also said that the risk weights taken into account in the calculation of capital adequacy standard ratios had been increased in terms of consumer loans, personal credit cards, passenger car loans, vehicle secured loans and financial leasing transactions.