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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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Turkish banks refuse transactions with Russia and Belarus

September, 19 2024

Almost all banks seek to transfer these operations to one local institution — Emlak Katılım.This is due to concerns about sanctions and restrictions. Banks that do not have foreign partners refund dollar and euro payments for transactions with Russian and Belarusian companies and advise customers to contact Emlak Katılım to make payments in Turkish lira.Emlak Katılım is the only bank in Turkey that carries out trade transactions in the Russian ruble/Turkish lira pair. Commissions for such transa... Read More

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