Turkey’s Bank Regulator Targets Consumer Credit With New Rules for Loans, Cards

ISTANBUL—Turkey’s Banking Regulation and Supervision Agency announced Aug. 16 planned new measures to rein in consumer loans and credit cards.

The measures are awaiting parliamentary approval, but Istanbul attorney Serkan Ictem, a partner with Ictem Legal, told BNA Aug. 20 he expects the process to move quickly with publication in the country’s official register by the end of summer. The tighter restrictions on consumer credit are directly connected with concerns publicly expressed by Turkish Prime Minister Recep Tayyip Erdogan, according to Ictem.

Erdogan has been critical of banking practices. In a July speech the prime minister urged people not to ...