Communiqué on Redetermination of Minimum Equity Amounts for Payment and Electronic Money Institutions Published!
The Communiqué on Redetermination of Minimum Equity Amounts for Payment and Electronic Money Institutions (“Communiqué”)” was published in the Official Gazette numbered 32442 dated 27.01.2024.
Along with the Communiqué, the minimum equity amounts, which were determined according to Art. 33/1 titled “minimum equity requirement and professional liability insurance” of the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”), and which were revised in the year 2023, were updated once more to be effective as of 30.06.2024. The new minimum equity amounts determined within the scope of the Communiqué in comparison with the amounts applied in 2023 are as follows:
- For Payment institutions providing the payment services specified in Art. 4/1 (e) of the Regulation:
(For 2023) 7 million Turkish Liras -- (From 30.06.2024) 10 million Turkish Liras
- For Payment institutions other than those who exclusively provide the payment service specified in Art. 4/1 (g) of the Regulation:
15 million Turkish Liras -- 20 million Turkish Liras
- For Electronic money institutions:
41 million Turkish Liras -- 55 million Turkish Liras
The complete Turkish text of the Communiqué can be accessed here.
Pınar Akkaya, Associate
Can Kaleli, Legal Intern