The Central Bank of Turkey re cross-border refinancing

The Central Bank of Turkey has improved the process for cross-border refinancing transactions by streamlining the operational procedures.

In an effort to improve the process of cross-border refinancing loans, the Central Bank of Turkey has made changes to Article 22 of the Capital Movements Circular on 2 May 2018. On 16 March 2021, this change allows for the use of refinancing loan proceeds to directly repay existing facilities, without the need to bring the funds into Turkey.

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