Turkey boycotts new loan law

Turkish companies are boycotting a new law shortening terms of loan payments. Most companies extended the repayment terms by 36 months, Trend reports.BDDK, Turkish bank monitoring structure, said on November 27 that a new law on loans will come into force, nullifying or shortening the terms to repay loans. Payments made by credit cards total 34.6 billion liras a year.

Turkish companies are boycotting a new law shortening terms of loan payments. Most companies extended the repayment terms by 36 months, Trend reports.

BDDK, Turkish bank monitoring structure, said on November 27 that a new law on loans will come into force, nullifying or shortening the terms to repay loans. Payments made by credit cards total 34.6 billion liras a year.