Turkish Parliament has introduced significant changes to Banking Law No. 5411, the Debit Cards Law No. 5464 and the Financial Leasing, Factoring and Finance Companies Law No. 6361. The amendment law (the “Amendment”) has been published in the official gazette of February 25, 2020 and entered into force.

The following are the main changes introduced by the Amendment.

~ Transactions qualified as “loan”

The Amendment expands the scope of development and investment banking activities that are considered to be loan transactions under the Banking Law. Banking Regulation and Supervision Agen