The Central Bank of the Republic of Türkiye (CBRT) has reset the minimum equity amounts for payment and electronic money institutions.
Accordingly:
- For bill payment institutions, the minimum equity amount, set at 3 million TL by the regulation and applied as 7 million TL as of 30 June 2023, has been set at 10 million TL with the Communiqué.
- For other payment institutions, it was decided that the minimum equity amount, first set at 5 million TL by the CBRT and continuing at 15 million TL as of 30 June 2023, will be 20 million TL;
- For electronic money institutions, it was decided that the minimum equity amount, set at 13 million TL by the regulation and applied as 41 million TL as of 30 June 2023, will be 55 million TL.
- It was stated that the Communiqué will enter into force on 30 June 2024.
You can access the communiqué from the link below:
https://www.resmigazete.gov.tr/eskiler/2024/01/20240127-8.pdf
Impact of the updates on institutions
An increase in the equity amount directly affects institutions' capital planning. Institutions that fall short need a capital increase, and a certain transition period is granted.
This regulation aims to prevent the proliferation of small and weak institutions in the sector and to strengthen the protection of user funds. It also raises the cost of entry for new startups.
Since the amounts may be updated again over time, the current version of the regulation in force should be followed.
