Authority on Installment Sales Granted to the Ministry of Trade

The Ministry of Trade has enacted a new regulation to ensure unity of application regarding installment sales of goods and services in retail trade, acquiring the authority to determine periods excluding housing sales.

Purpose of the Regulation Amendment

The Ministry of Trade has enacted a new regulation with the aim of ensuring unity of application regarding installment sales of goods and services in retail trade and swiftly implementing regulations in line with current needs.

Scope of Authority and Exceptions

With the amendment made to the Regulation on Principles and Rules to be Applied in Retail Trade, the authority to determine the installment periods for installment sales of goods and services made by retail businesses to consumers, excluding housing sales, has been granted to the Ministry.

Compliance with BRSA Decisions

Alignment is targeted in line with the decisions taken by the Banking Regulation and Supervision Agency regarding the installment periods of sales realized through credit cards, shopping loans, and consumer financing.

With the amendment made within this scope, it is aimed to harmonize regulations regarding other installment methods in the retail sector and to implement decisions effectively.

Announcement of Decisions

Decisions to be taken by the Ministry of Trade within this scope will be announced on the official website of the Ministry of Trade and transmitted to the relevant upper professional organizations.