Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), evaluated the regulations that limit the fees and commissions charged by banks in his written statement.
Hisarcıklıoğlu pointed out that in addition to loan interest, the fees and commissions charged by banks have become a separate expense item for a while, and stated that they received many complaints from merchants and industrialists in this context.
Hisarcıklıoğlu emphasized that the transaction fees charged by banks have increased 4.5 times in the last 10 years, and the increase rate last year alone was 34 percent, and said:
“When using the Central Bank EFT system, banks began to demand 20 lira from us for a transaction for which they paid 20 kuruş. Another problem was loan early payment and closing commissions. Entrepreneurs who wanted to close loans with high interest were being punished. We constantly brought up all these issues before our government. “It resulted positively. Our entire business world welcomed the limitation on transaction fees. Both our citizens and our real sector will breathe a sigh of relief. The limitation on transaction fees will have a positive impact on business life.”
