Türkiye Legal Update - September 2018

The Presidential Executive Decree No. 85 dated 12 September 2018, prohibited the use of foreign currency in the agreements between the residents in Turkey. The Decree is a serious limitation of freedom of contract principle under Turkish law. 

In accordance with the communiqué on export prices published in the past few days, prices relating to export transactions carried out by residents in Turkey, will be transferred or brought directly and without delay to the bank which mediates the export after the importer’s payment.

Data Protection Board in Turkey has announced additional data controller categories exempt from the obligation to register to the Data Controllers Registry and also set forth the starting dates and deadlines for registing to the Data Controllers Registry.