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The Central Bank of the Republic of Turkey ("CBRT") updated the minimum equity requirements under Article 33 of the Regulation on Payment Services and E-Money Issuance.
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Recent Developments
The Central Bank of the Republic of Turkey
(“CBRT“) updated the minimum equity
requirements under Article 33 of the Regulation on Payment Services
and E-Money Issuance. Updated requirements were published in the
Official Gazette dated January 22, 2022 and No. 31727 and will
enter into force by April 1, 2022.
What's New?
The CBRT updated the minimum equity requirements as
follows:
Relevant Institution
Former Minimum Equity Amount
Updated Minimum Equity Amount
Payment services providers exclusively dealing with invoice
collection
TRY 3,000,000
TRY 5,500,000
Other payment services providers
TRY 5,000,000
TRY 9,000,000
E-money issuers
TRY 13,000,000
TRY 25,000,000
Conclusion
Considering the annual changes in the price indexes published by
the Turkish Statistical Institute, the CBRT increased the minimum
equity requirements for payment and e-money institutions to be
effective as of April 1, 2022.
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.
