Amendments Regarding Minimum Equity Amounts for Payment and Electronic Money Institutions
01.03.2024
Regulation Regarding the Determination of Minimum Equity Amounts for Payment and Electronic Money Institutions (Regulation) has been published by the Central Bank of the Republic of Turkey (Bank).
Regulation increases the minimum equity requirements for payment and electronic money institutions. The updated amounts are as follows:
- For payment service providers exclusively intermediating invoice payments, the minimum equity requirement of 7 million Turkish liras has been updated to 10 million Turkish liras.
- For all payment institutions, excluding those providing services other than the service of providing consolidated information on one or more payment accounts held by a payment service user with payment service providers, subject to the condition of obtaining the payment service user's consent, the minimum equity requirement of 15 million Turkish liras has been updated to 20 million Turkish liras.
- For electronic money institutions, the minimum equity requirement, previously set at 41 million Turkish liras, has been updated to 55 million Turkish liras.
Regulation will come into effect on 30 June 2024.
You can reach the full text of the Regulation here (Only available in Turkish).
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