With the instruction sent from the Central Bank to the banks, the issue of cash advance and overdraft account arrangements was clarified.

In the instruction, it is stated that no restrictions will be applied to the use of cash advances from credit cards and overdraft accounts.

In the Implementation Instruction for the Securities Establishment, it was stated that cash advances, overdrafts and jewelery expenditures would be exempted from macroprudential measures.

In the letter sent to the banks, it was stated, “It is considered that it would be appropriate to exclude jewelery expenditures and cash withdrawals made through individual credit cards from the securities facility, according to the loan type, within the scope of the instruction of the Presidential authority.”


Securities facility exemption based on credit growth

In addition, housing, agriculture, tradesmen, SMEs, export and investment loans and loans extended to financial institutions, corporate credit cards, overdraft account loans extended to consumers were exempted from the establishment of securities according to loan growth.

The Central Bank made arrangements for banks to implement a certain amount of security in the use of credit cards and overdraft accounts, but some banks instead turned to harsh practices in the use of credit cards.

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