Turkish lira

Turkish banking watchdog announces details of commercial loans decision

Türkiye's banking watchdog has announced the details of commercial loans decision revealed on June 24, while emphasizing that the decision is a measure taken to strengthen financial stability, use resources more efficiently and productively, and ensure that the credit system works effectively.

Turkish Lawyers Urge Cancellation of ‘Cash-for-Citizenship’ Scheme

Turkish and Austrian passports in 2017. Photo: EPA/LISI NIESNER

The Bar Association said in a statement that citizenship "expresses a legal and political bond and commitment to the state", and that putting a financial value upon it "has made the concept of citizenship abstract and alienated it from its essence".

Turkey Acts to Limit Rent Increases Amid Soaring Inflation

Buildings in Istanbul. Photo: Pixabay/btastinkaya

According to the new regulation, rent price hikes will be limited to 25 per cent until July 2023.

"Rents can only be increased by 25 per cent. We tried to protect the rights of both tenants and landlords," Turkish Justice Minister Bekir Bozdag told reporters before the parliamentary vote on Wednesday.