Turkish Currency Protection Law

How does the Law on the Turkish Currency Protection Presidential Decree Law numbered 32 and the Communique on the amendment of the relevant Law effects the agreements based on foreign currencies? How will the employment contracts be impacted in relation to the new regulations?

What are the impacts of the Turkish Monetary Currency (TL) Protection Decree Law and which contracts among the parties in Türkiye are liable to set contract values from the currency of TL?

Subjects evaluated:

1. Parties in Agreements
2. Agreements that cannot be indexed to foreign currency among the parties in Türkiye.
3. Agreements that can be indexed to foreign currency among the parties in Türkiye.
4. Agreements that can be indexed to foreign currency among parties outside of Türkiye.
5. Commercial and Civil Aviation agreements based in foreign currency.
6. Agreements among public establishments / institutions.
7. Status of valued negotiable instruments and precious metals.
8. Further details in regards the application of the new regulation.