Baku, Azerbaijan, Oct. 23
By Rufiz Hafizoglu - Trend:
Turkey has lifted the ban on the credit payment of gold jewelry, the Turkish Banking Regulation and Supervision Agency said Oct. 22.
Earlier, credit payment for gold jewelry was completely banned. At present, the maximum term of gold sale credit will be limited to four months, a message says.
The annual demand for gold in the country is 150-250 metric tons.
The country's gold reserves are 512.9 metric tons. A gram of pure gold costs 90.1251 lira in Turkey, the Central Bank of Turkey said.
The largest gold mines in Turkey are Bergama in Izmir, Salihli in Manisa and Kisladag in the province of Usak.
The payment terms of certain goods bought with credit will be canceled or reduced in Turkey, according to the changes in the loan issuance rules, which came into force earlier.
The amount of annual payments on credit cards in the country is 34.6 billion Turkish liras, the Turkish Banking Regulation and Supervision Agency said.
The official exchange rate is 2.2436 TRY/USD Oct. 23.
edited by CN