Single limit to be set for credit cards in Turkey

Business Materials 8 October 2013 19:42 (UTC +04:00)

Azerbaijan, Baku, Oct. 8 / Trend, R. Hafizoglu /

A single limit will be set for credit cards in Turkey, the Turkish Banking Supervision Agency said today.

According to the report, currently, a single limit has not been determined yet. But according to preliminary data, it can be equal to fourfold the amount of the average monthly salary.

The report also says that at present, the Turkish population has 56.5 million credit cards and 96.6 million debit cards.

According to the Turkish Banking Supervision Agency, the amount of annual payments on credit cards is 34.6 billion Turkish lira.

According to the report, around 30 percent of credit cards used in the country has a limit of up to 2,000 lira, 10 percent - up to 10,000 lira, four percent - more than 20,000 Turkish lira.

According to the report, all inactive cards will be canceled in Turkey.

The official exchange rate is 1.9961 TRY/USD on Oct. 8.