Electronic Payment System Agreement Between Turkey and the TRNC
With the EPS agreement reached between the CBRT and the TRNC Central Bank, financial integration between the two countries is planned to be completed in November.
It has been announced that an agreement has been reached between the Central Bank of the Republic of Turkey and the Central Bank of the TRNC regarding the Electronic Payment System, and necessary approvals have been obtained.
Istanbul Economy Forum Statement
TRNC Central Bank Governor Rifat Günay made important statements at the Istanbul Economy Forum held at the Istanbul Finance Center.
Target Date for Integration
Following the Electronic Payment System agreement reached between the two central banks, the integration is expected to be implemented by November at the latest.
Common Currency and Transactions
Rifat Günay reminded that Turkey and the TRNC share the Turkish lira currency and pointed out that financial transactions are carried out through payment systems.
Economic Relations and Imports
Günay emphasized that the TRNC meets 70 percent of its total imports from Turkey and that developments in the Turkish economy directly affect the TRNC.