Communiqué on Redetermination of Minimum Equity Amounts of Payment and Electronic Money Institutions was published in the Official Gazette on January 27, 2024
The Central Bank of the Republic of Turkey (CBRT) amended the Communiqué on the Redetermination of the Minimum Equity Amount of Payment and Electronic Money Institutions (Communiqué) published on 27/01/2024 and the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (Regulation). Pursuant to the Communiqué, the minimum equity requirements of payment and electronic money institutions have been redetermined as follows for the year 2024, effective as of June 30, 2024:
| Relevant Institution | Former Minimum Equity Liability Amount | New Minimum Equity Liability Amount |
| Payment institutions that exclusively intermediate invoice payments | 7.000.000 TL | 10.000.000 TL |
| Electronic money institutions | 41.000.000 TL | 55.000.000 TL |
| Other payment institutions | 15.000.000 TL | 20.000.000 TL |
In line with the Communiqué, it is important for the relevant payment and electronic money institutions to increase their minimum capital until June 30, 2024. If the institutions fail to comply with the Communiqué, the CBRT has the authority to grant a reasonable period of time, not exceeding six months, to remedy the non-compliance, to temporarily suspend the operating license of the relevant institution until the necessary measures are taken within this period, and to revoke the operating license if the measures are not taken within the specified period.
