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Update from Business Turkey Today

Extract:
According to the draft communiqué published on the Ministry’s website, cash transactions ranging between 200,000 TL and 2 million TL will require the selection of a transaction type. If customers choose general options such as “other” or “personal payment,” they will be required to provide an explanation of at least 20 characters. It is also being discussed that the lower threshold of 200,000 TL may be increased to 400,000 TL.

According to the information shared, starting in the new year, money transfers such as EFT, FAST, and wire transfers carried out via ATMs, mobile applications, or internet banking will be subject to a minimum explanation requirement of at least 20 characters.

Gradual Implementation Planned
Sector representatives will be consulted until December 31, after which the regulation is expected to be rolled out gradually. The planned transition dates for implementation are March 1 and July 1, allowing financial institutions time to adapt their systems.

• This reply was modified 2 weeks, 1 day ago by gaz8587.
• This reply was modified 2 weeks, 1 day ago by gaz8587.
• This reply was modified 2 weeks, 1 day ago by gaz8587.

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https://www.dailysabah.com/business/economy/turkiye-hikes-minimum-wage-by-27-for-2026

Extract:

Minimum wage in Türkiye will be increased by 27% in 2026, Labor and Social Security Minister Vedat Işıkhan announced on Tuesday.

The new net monthly minimum wage will rise to TL 28,075 (about $655.5), up from TL 22,104 this year, Işıkhan told a press conference in Ankara. The gross minimum wage will be set at TL 33,030, he said.

Işıkhan added that government support for the minimum wage would also rise, increasing from TL 1,000 to TL 1,270.

“With the new wage, we stand behind our promise of not letting our employees be crushed by inflation,” he said.

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