ANNOUNCEMENT ON BRSA'S DECISION ON CREDIT CARD INSTALLMENT CHANGE APPLIED TO KKTC

Dear Members,

The request for TRNC to be exempt from the BRSA's installment ban decision, which was voiced by our Association and our President Firuz Bağlıkaya and supported by TRNC Minister of Tourism, Culture, Youth and Environment Mr. Fikri Ataoğlu and Northern Cyprus NGOs, has been met.

With the decision taken at the meeting of the Banking Regulation and Supervision Agency dated 24.08.2023;

Pursuant to paragraph 7 of Article 26 of the Regulation on Bank Cards and Credit Cards, the Board Decision dated 31.07.2023 and numbered 10631 on the prohibition of installments for expenditures related to airlines, travel agencies and accommodation abroad, effective as of 31.07.2023, will not be applied to expenditures related to the Turkish Republic of Northern Cyprus and the installment periods for such expenditures will continue to be applied for 3 months.

We would like to thank the Banking Regulation and Supervision Agency for responding to our call and changing the decision.

Sincerely, we submit for the information of our members.

Association of Turkish Travel Agencies
TÜRSAB

Annex - 1: Banking Regulation and Supervision Agency Decision