The Ministry of Commerce reduced the installment period for mobile phone sales above 3,500 lira to 3 months, in line with BRSA’s maturity regulation for loans.
The “Regulation on Amendments to the Regulation on the Principles and Rules to be Applied in Retail Trade” by the Ministry of Commerce was published in the Official Gazette and entered into force.
With the regulation, the period for installment sales made by retail businesses to consumers has been rearranged.
Accordingly, the installment period will be 3 months for mobile phone sales whose price exceeds 3 thousand 500 lira. This period was previously 6 months.
Banking Regulation and Supervision Agency (BDDK) reduced the maturity limit for loans granted for the purchase of mobile phones with a price of over 3 thousand 500 liras from 6 months to 3 months, with the amendment to the regulation published in the January 14 issue of the Official Gazette.
