Credit card debt restructuring regulation published in the Official Gazette

DHA

Created: July 12, 2025 04:44

The Communiqué on Maximum Interest Rates to be Applied to Credit Card Transactions was published in the Official Gazette and entered into force. Accordingly, pursuant to Article 1 of the Banking Regulation and Supervision Agency ( BRSA ) Decision, the monthly contractual interest rate to be applied in the restructuring of credit card debts cannot exceed the monthly reference rate calculated and announced in accordance with the procedures and principles set forth in the Communiqué on the Procedures and Principles Regarding Fees That Can Be Collected by Banks from Commercial Customers. The maximum monthly default interest rate to be applied to such transactions will be limited to the highest default interest rate determined under Article 5 of this Communiqué. The terms "interest rate" and "default interest rate" in this article will be applied as the profit share rate and the default penalty rate, respectively, for participation banks.