How much support will I receive when I convert foreign-sourced foreign exchange into Turkish Lira?

If you convert your foreign-sourced foreign exchange into Turkish Lira by selling it to the Central Bank, you will receive foreign exchange conversion support equal to 2 percent of the converted amount, provided that you comply with the specified conditions.

What happens to me if I benefit from the foreign exchange conversion support irregularly?

In the event that irregular utilization is detected, the paid support amount shall be reclaimed along with the exchange rate difference and interest, you may be subjected to prohibition from Central Bank-sourced loans and supports, and a criminal complaint may be filed against you.

What is the deadline for this support?

The duration of the implementation within the scope of the Communiqué has been extended until January 31, 2027.

Will I also be affected if another firm that controls my company commits an irregularity?

Yes; according to the communiqué, the foreign exchange conversion support and Central Bank-sourced loan requests of other firms that control, or are controlled by, the firm committing the irregularity shall also not be granted acceptance.

COMMUNIQUÉS1 August 2026

2% Support for Foreign-Sourced Foreign Exchange

Official titleCommuniqué Amending the Communiqué on Supporting the Conversion of Firms' Foreign-Sourced Foreign Exchange into Turkish Lira (Communiqué No: 2023/5) (Communiqué No: 2026/11)

The Central Bank of the Republic of Turkey has made significant amendments to the communiqué on supporting the conversion of firms' foreign-sourced foreign exchange into Turkish Lira, setting the support rate at 2 percent, introducing severe sanctions for irregular use, and extending the implementation period until January 31, 2027.

Before

Support for the conversion of firms' foreign-sourced foreign exchange into Turkish Lira was being provided; however, the support rate and the audit and sanction mechanisms regarding irregular use were not as clear and comprehensive as in the current Communiqué. The implementation period was until July 31, 2026.

After

Support at the rate of 2 percent is paid for the conversion of firms' foreign-sourced foreign exchange into Turkish Lira. The definitions of "Intermediary bank", "Conversion rate", and "Control of firm" have been updated. Severe sanctions such as repayment with exchange rate difference and interest, prohibition from loans and supports, and criminal complaints have been introduced against firms that benefit from the support irregularly or make misrepresentations. Examination and audit powers have been granted to the Central Bank, and the obligations of intermediary banks have been increased. The implementation period has been extended to January 31, 2027.

Details of the Regulation

With the amendments made, the Communiqué on Supporting the Conversion of Firms' Foreign-Sourced Foreign Exchange into Turkish Lira (Communiqué No: 2023/5) has been re-regulated. The Communiqué sets the foreign exchange conversion support at 2 percent of the amount of foreign-sourced foreign exchange sold by firms to the Central Bank through intermediary banks. To benefit from this support, firms' foreign exchange position ratios must not exceed the limit determined by the Central Bank.

One of the most critical amendments is the sanctions introduced under the heading "Misrepresentation and irregular use." In the event that irregular utilization of the support is determined, the paid support amounts shall be reclaimed along with the exchange rate difference and interest to be calculated over the Central Bank's highest overnight lending rate; the relevant firm and the firms it controls shall be deprived of Central Bank-sourced loans and supports for a specified period, and a criminal complaint may also be filed. Intermediary banks have also been obligated to report suspicious transactions and ensure collection.

The Central Bank has expanded its authority to conduct examinations regarding support payment transactions and to request additional information and documents from firms. During the examination period, no support payments shall be made to the firms, and if an irregularity is detected, the support request shall be rejected and severe sanctions shall be imposed. Furthermore, the continuity of the implementation has been ensured by extending the period set forth in Provisional Article 1 of the Communiqué from July 31, 2026, to January 31, 2027.

REGAS Commentary

This amendment to the communiqué is an important step towards strengthening the objectives of preserving the value of the Turkish Lira and ensuring stability in the foreign exchange markets. While converting foreign-sourced foreign exchange into Turkish Lira is made attractive for enterprises, the severe sanctions and audit mechanisms introduced to prevent abuses are noteworthy. Although it is a beneficial regulation, particularly for firms that do not exceed foreign exchange position ratios and act in compliance with the rules, it entails serious financial and legal risks in case of non-compliance. Firms must pay attention to these new regulations and particularly to the audit and sanction provisions.

Questions You Might Have

How much support will I receive when I convert foreign-sourced foreign exchange into Turkish Lira?: If you convert your foreign-sourced foreign exchange into Turkish Lira by selling it to the Central Bank, you will receive foreign exchange conversion support equal to 2 percent of the converted amount, provided that you comply with the specified conditions.
What happens to me if I benefit from the foreign exchange conversion support irregularly?: In the event that irregular utilization is detected, the paid support amount shall be reclaimed along with the exchange rate difference and interest, you may be subjected to prohibition from Central Bank-sourced loans and supports, and a criminal complaint may be filed against you.
What is the deadline for this support?: The duration of the implementation within the scope of the Communiqué has been extended until January 31, 2027.
Will I also be affected if another firm that controls my company commits an irregularity?: Yes; according to the communiqué, the foreign exchange conversion support and Central Bank-sourced loan requests of other firms that control, or are controlled by, the firm committing the irregularity shall also not be granted acceptance.

Key Terms

Aracı banka: Banks defined under the Banking Statute No. 5411 that intermediate foreign exchange conversion support transactions.
Dönüşüm kuru: The foreign exchange buying rate announced in accordance with the procedures and principles to be determined by the Central Bank on the date the foreign exchange is sold to the Central Bank.
Firma kontrolü: The state of directly or indirectly holding a minimum of 50% of the shares, voting rights, or the right to elect board members in a firm within the framework of capital and management relations.
Döviz dönüşüm desteği: The incentive amount at the rate of 2 percent paid in return for firms converting their foreign-sourced foreign exchange into Turkish Lira, provided that the conditions determined by the Central Bank are complied with.

Affected Sectors

Finance
Export
Import
All businesses

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