Politics · Turkey · 4 hrs ago
Turkey Removes 12-Month Cap on Retail Installment Payments
Turkey has removed the 12-month limit on retail installments for purchases other than homes.
The change covers goods and services sold in retail trade, including travel, accommodation, furniture, electronics and household appliances.
Previously, rules set a general limit and separate limits for some sectors and purchase amounts.
Under the new regulation, the Trade Ministry will decide installment periods and any extra restrictions.
The change took effect on October 15, the day it was published in Turkey’s Official Gazette.
If new limits are needed, the ministry must announce them, but no new rules are specified here.
Turkey has removed the 12-month cap on installment payments for retail goods and services other than housing.
The change also removes specific installment limits for air travel, travel, accommodation, furniture, electronic devices and white goods.
The Ministry of Trade will determine installment periods and any additional restrictions.
The regulation took effect on the day it was published, October 15.
- Who
- Turkey’s Ministry of Trade will determine installment periods and any additional restrictions.
- What
- The 12-month cap and other specified installment limits for non-housing retail sales were removed.
- When
- October 15, the date the regulation was published and took effect.
- Where
- Turkey.
- Why
- Not stated
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This story does not have a timeline yet.
- General cap
- 12 months
- Effective date
- October 15
- Excluded category
- Housing sales
- Regulating authority
- Turkey’s Ministry of Trade