CONVERSION OF COMPANIES' FOREIGN-SOURCE FOREIGN EXCHANGE INTO TURKISH LIRA SUPPORT THEREOF REGARDING THE COMMUNIQUÉ ON IMPLEMENTATION INSTRUCTIONS

CENTRAL BANK OF THE REPUBLIC OF TURKEY

GENERAL DIRECTORATE OF TREASURY AND CORPORATE OPERATIONS

11 November 2026

Implementation Instructions Regarding the Communiqué on the Support for the Conversion of Companies' Foreign-Source Foreign Exchange into Turkish Lira

PART ONE Introductory Provisions

Purpose and scope

ARTICLE 1- (1) The purpose of these Implementation Instructions is to regulate the implementation details regarding the Communiqué No. 2023/5 on the Support for the Conversion of Companies' Foreign-Source Foreign Exchange into Turkish Lira.

Legal basis

ARTICLE 2- (1) These Implementation Instructions have been prepared based on the Communiqué No. 2023/5 on the Support for the Conversion of Companies' Foreign-Source Foreign Exchange into Turkish Lira.

Definitions and abbreviations

ARTICLE 3- (1) In these Implementation Instructions;

a) Intermediary bank: Banks defined in Article 3 of the Banking Law No. 5411 dated 19/10/2005 that intermediate foreign exchange conversion support transactions,

b) Intermediary exporter: Foreign Trade Capital Companies, Sectoral Foreign Trade Companies, and other intermediary exporters that perform export activities within the scope of an intermediary export contract,

c) Current rate: The foreign exchange conversion support rate specified in the Communiqué No. 2023/5 on the Support for the Conversion of Companies' Foreign-Source Foreign Exchange into Turkish Lira,

ç) Conversion rate: The foreign exchange buying rate announced by the Central Bank at 11:00 on the day on which companies' foreign-source foreign exchange is converted into Turkish lira,

d) Foreign exchange conversion support: The support to be provided by the Central Bank within the scope of these Implementation Instructions to companies that sell their foreign-source foreign exchange to the Central Bank,

e) (Amended: 11/11/2026) Foreign Exchange Position Notification Form: The Foreign Exchange Conversion Support Foreign Exchange Position Notification Form in Annex: C,

f) Foreign exchange position ratio: The ratio calculated according to the formula in the Foreign Exchange Position Notification Form,

g) ETGB: Electronic Trade Customs Declaration,

ğ) Company control: Within the framework of capital and management relationships, directly or indirectly, holding at least 50% of shares or at least 50% of voting rights or the right to elect at least 50% of the board members or holding at least 50% of the board members in a company,

h) Company sales limit: The value-added amount consisting of company profitability and labor cost,

ı) Companies: Companies with legal personality having their legal domicile in Türkiye, excluding banks and other financial institutions determined by the Central Bank,

i) Customs declaration: Customs declarations closed as a result of actual export,

j) Limit utilization period: Calendar year,

k) Central Bank: Central Bank of the Republic of Turkey,

l) NBF: Cash Declaration Form,

m) SMMM: Certified Public Accountant,

n) Request Form: The Foreign Exchange Conversion Support Request Form in Annex: B,

o) YMM: Sworn-in Certified Public Accountant,

ö) Foreign-source foreign exchange: Companies', excluding those arising from the export of all precious metals defined in paragraph (j) of Article 2 of Decision No. 32 on the Protection of the Value of Turkish Currency published in the Official Gazette No. 20249 dated 11/8/1989;

1) Foreign exchange export revenues,

2) Foreign exchange they bring into the country from foreign exchange-earning service revenues obtained from residents abroad, including foreign exchange amounts earned in return for services provided to foreigners in the country,

3) Foreign exchange revenues obtained by companies operating in the free zone only from their sales abroad,

p) (Added paragraph: 11/11/2026) HİS Certificate: The Accelerated Refund System Certificate issued by the Tax Office Directorate or the Revenue Office within the scope of the Value Added Tax General Implementation Communiqué published in the Official Gazette No. 28983 dated 26 April 2014,

r) (Added paragraph: 11/11/2026) Capacity Report: The capacity report prepared by the relevant chamber to which the company is affiliated within the scope of Article 41 of the Chamber Transactions Regulation published in the Official Gazette No. 25934 dated 12 September 2005 and approved by the Union of Chambers and Commodity Exchanges of Türkiye (TOBB)

shall mean.

PART TWO

Scope and Operation of Foreign Exchange Conversion Support

Foreign exchange types subject to the transaction

ARTICLE 4- (1) The foreign exchange types to be sold to the Central Bank by intermediary banks are US dollar, Euro, and British pound. Foreign exchange amounts related to transactions made over other foreign exchange types subject to purchase and sale by the Central Bank are converted by the intermediary bank into US dollar, Euro, or British pound and sold to the Central Bank.

Provision of foreign exchange conversion support

ARTICLE 5 – (1) In order for exporter companies wishing to benefit from foreign exchange conversion support,

a) To request foreign exchange conversion support by submitting the request form and the foreign exchange position notification form to the intermediary bank during the sale to the Central Bank through the intermediary bank of the export proceeds foreign exchange they are obliged to sell to the Central Bank within the scope of the Export Communiqué dated 16 January 2020, the foreign exchange-earning service fee foreign exchange within the scope of Article 5 of the Invisible Transactions Communiqué dated 18 May 2026, and the foreign exchange obtained by companies operating in the free zone only from their sales abroad,

b) To request foreign exchange conversion support with the request form before the customs declaration information is reported, during the sale to the Central Bank of the foreign exchange they brought in as advance export proceeds within the scope of the Export Communiqué dated 16 January 2020, and to report to the intermediary bank within 6 months following the foreign exchange sale the customs declaration information with the payment method written as "Advance Payment" and the foreign exchange position notification form, at least in the amount of foreign exchange sold to the Central Bank

provided that, the foreign exchange conversion support calculated by applying the current rate to the amount converted into Turkish lira at the conversion rate of the day on which the sale to the Central Bank is realized is transferred by the Central Bank to the intermediary bank for payment to the companies.

(2) The day on which the foreign exchange sale to the Central Bank is realized;

a) Within the scope of subparagraph (a) of the first paragraph of this article, the Turkish lira equivalent amounts of foreign currencies purchased by the Central Bank at the conversion rate and the foreign exchange conversion support amounts,

b) Within the scope of subparagraph (b) of the first paragraph of this article, the Turkish lira equivalent amounts of foreign currencies purchased by the Central Bank at the conversion rate

are sent to the intermediary bank's EFT center account free of charge. The foreign exchange conversion support amount to be paid within the scope of subparagraph (b) of the first paragraph of this article shall be sent to the intermediary bank's EFT center account free of charge after the customs declaration information with the payment method written as "Cash Payment" and the foreign exchange position notification form are submitted to the intermediary bank. For transactions that cannot be concluded by 17:30, the said amounts are transferred to the intermediary bank's required reserve account at the Central Bank.

(3) Foreign currencies transferred collectively by the intermediary bank to the Central Bank's account are purchased by the Central Bank at the conversion rate. Foreign currencies sold to the Central Bank shall not be returned under any circumstances.

(4) (Amended: 26/10/2026) Companies whose foreign exchange position ratio exceeds 10 percent cannot benefit from the foreign exchange conversion support. The foreign exchange position notification form is valid for 3 months from the date of the document, and multiple transactions can be made under the same form within this period.

Intermediary banks check that these conditions are met during each foreign exchange conversion support application.

(5) The maximum foreign exchange conversion support amount that the company can benefit from within the limit usage period is 100.000.000 (one hundred million) Turkish liras.

(6) (Amended: 26/10/2026-11/11/2026) The sale of foreign currencies brought into the country by the intermediary exporter on behalf of companies that supply/manufacture products to intermediary exporters;

a) The Declaration Regarding the Payment of Foreign Exchange Conversion Support to the Supplier/Manufacturer within the Scope of Intermediary Export contained in Annex: E of the intermediary exporter and supplier/manufacturer companies,

b) The intermediary export contract made between the intermediary exporter and the supplier/manufacturer company,

c) The relevant Customs Declarations in which the title of the supplier/manufacturer company is registered and the export-registered goods invoices related to the supply/manufacture within the scope of these declarations

can be made upon submission to the intermediary bank. In cash export transactions, the request form and the contract in subparagraph (b) of this paragraph are given to the intermediary bank during the foreign exchange sale, and the documents in subparagraphs (a) and (c) of this paragraph and the foreign exchange position notification during the submission of the customs declaration information with the payment method written as "Cash Payment". Within the scope of this paragraph, the foreign exchange sale is deemed to be made by the supplier/manufacturer company and the foreign exchange conversion support is transferred by the intermediary bank directly to the account of the supplier/manufacturer company. In transactions carried out within this scope, the request form and foreign exchange position notification form required to be submitted pursuant to the first paragraph of this article are signed by the supplier/manufacturer company and submitted to the intermediary bank. In transactions within the scope of this paragraph, the intermediary bank checks that supplier/manufacturer invoices covering at least the amount of foreign currency sold to the Central Bank have been submitted. In cases where the intermediary exporter is a Foreign Trade Capital Company or a Sectoral Foreign Trade Company, or where it is certified to the intermediary bank with the capacity report belonging to the supplier that the supplier/manufacturer can produce the product in the invoice issued, the condition that the invoices related to the supply/manufacture are export-registered is not required. While performing this check, amounts excluding VAT are taken into consideration and the equivalent of the invoice amounts in the foreign exchange type sold to the Central Bank is calculated over the indicative foreign exchange buying rates or cross rates published on the Central Bank's website at 15:30 on the business day preceding the invoice date.

(7) In the sale of foreign currencies received in the supplier/manufacturer account in accordance with the Export Communiqué, which are not cash export proceeds, the documents listed in subparagraphs (a), (b) and (c) of the sixth paragraph of this article must be submitted to the intermediary bank.

(8) Brought in cash from abroad;

a) Foreign exchange earning service export,

b) Goods export within the scope of cash export

foreign exchange conversion support requests for their proceeds are not accepted. In the sale of goods export proceeds brought in cash from abroad that are not within the scope of cash export, in order to request foreign exchange conversion support, an NBF must have been issued. Companies wishing to benefit from the foreign exchange conversion support with an NBF can sell their foreign currencies to the Central Bank only through the bank specified in field number 28 titled "Financial and Banking Data" of the customs declaration, by including the customs declaration information that constitutes the basis for the relevant goods export in the NBF.

(9) (Amended: 26/10/2026) Within the scope of this Implementation Instruction;

a) For goods export proceeds, in case the foreign currencies tied to the Export Proceeds Acceptance Document, in which only the explanations "Issued within the period of bringing the proceeds and/or notification.", "Issued within the period of the notice." or "Issued within the additional period." are stated in accordance with the Export Communiqué dated 16 January 2020, are

b) For foreign exchange earning service revenues, in case the relevant foreign currencies within 180 days from the final invoice date are

c) For sales made abroad by companies operating in the free zone, in case the relevant foreign currencies within 180 days from the date approved by the relevant administration regarding the exit from the free zone to be sent abroad according to the Free Zone Transaction Form are

sold to the Central Bank, the foreign exchange conversion support can be benefited from. Unless the customs declaration information for export proceeds foreign currencies, the invoice for foreign exchange earning service proceeds foreign currencies, and the Free Zone Transaction Form approved by the Free Zone Directorate for foreign currencies related to sales made abroad by companies operating in the free zone are submitted to the intermediary bank, the foreign exchange conversion support cannot be benefited from. If the invoices related to foreign exchange earning service fees exceed 15 per transaction, instead of the relevant invoices, invoice schedules prepared by the company, approved by a Certified Public Accountant (YMM) or Certified Public Accountant (SMMM), containing the title and tax identification number of the company that will benefit from the foreign exchange conversion support, as well as the invoice date, invoice number, invoice subject, invoice foreign currency amount, invoice foreign currency type, information on the real/legal person receiving the service, and information on the country where the real/legal person receiving the service is resident, may be accepted by intermediary banks. The customs declaration, invoices or invoice schedules for foreign exchange earning service fees, and Free Zone Transaction Form information submitted by companies to the intermediary bank and checked by the intermediary bank are stored electronically at the bank that mediates the transaction.

(10) (Amended: 26/10/2026) Within the scope of this Implementation Directive, companies may also benefit from the foreign exchange conversion support with ETGB. In cases where ETGB is submitted, in addition to the ETGB information, a Declaration on Foreign Exchange Sale within the Scope of ETGB in Annex: D is obtained from the companies stating that they will carry out ETGB transactions through a single bank for 3 months. Furthermore, during this period, the intermediary bank carrying out the transactions obtains confirmation at least once from other intermediary banks that no transaction has been carried out.

(11) Companies mediating foreign exchange earning services may benefit from the foreign exchange conversion support only by selling the foreign exchange they are entitled to from the mediation services they provide. The amount of the mediation service provided is determined by taking into account the consent letter to be obtained from the company providing the service to the non-resident, and the difference between the amount in the invoice issued by the intermediary to the non-resident to whom the service is provided and the invoice issued by the company providing the service domestically to the intermediary.

(12) (Amended: 26/10/2026) Intermediary banks check whether there is a free import subject to the export transaction based on the company declaration in the request form. If it is declared in the request form that free import has been made, in the calculation of the foreign exchange sale amount subject to the foreign exchange conversion support, the amount found by deducting the free import amount from the export amount shall be taken as the basis. The determination of the free import amount is made based on the invoices that constitute the basis for the customs declaration related to the export. The equivalent of the invoice amounts in the foreign currency sold to the Central Bank is calculated based on the indicative foreign exchange buying rates or cross rates published on the Central Bank's website at 15:30 on the business day preceding the invoice date. If the free import amount is equal to or greater than the export amount, foreign exchange conversion support is not paid. For foreign exchange sales to the Central Bank that also cover the free import amount, the provisions of the first and second paragraphs of Article 8 of this Implementation Directive shall apply to the companies making such sales.

(13) For companies using loans according to the Annex: 4th articles of the Export and Foreign Exchange Earning Services Rediscount Credit Implementation Directive and the Export and Foreign Exchange Earning Services Rediscount Financing Implementation Directive, foreign exchange conversion support is not provided throughout the loan term.

(14) (Added Paragraph: 26/10/2026) Companies providing foreign exchange earning services using an intermediary may benefit from the foreign exchange conversion support by selling the foreign exchange they collect from the intermediary company for the service they provide to non-residents. The amount of the service provided is determined by the intermediary bank of the company providing the service;

a) Invoices issued by the company providing the service,

b) SWIFT message regarding the amount received from abroad by the intermediary company

is determined through. In the event that the service fee provided is received by the intermediary company's bank, the intermediary bank of the company providing the service confirms from the intermediary company's bank that the amount came from abroad and was not sold, also taking into account the provision of the third paragraph of Article 7 of this Implementation Directive. In order to determine that the foreign exchange earning service is provided to a non-resident, the short address including the information of the real/legal person receiving the foreign exchange earning service and the country information is sought in the invoices or invoice annexes issued by the company providing the foreign exchange earning service to the intermediary company. Invoices or invoice annexes that do not contain this information are not accepted by the intermediary bank. The foreign exchange amount that the company providing the foreign exchange earning service can sell within the scope of the foreign exchange conversion support shall under no circumstances exceed the total foreign exchange earning service fee provided to non-residents in the invoices.

(15) (Added Paragraph: 26/10/2026) In cases where it is requested that the foreign exchange conversion support be paid to the supplier/manufacturer company in return for the sale of foreign exchange related to exports carried out within the scope of the Inward Processing Regime by the exporter company to the Central Bank, the following conditions must be met.

a) The request form and the foreign exchange position declaration form are submitted to the intermediary bank by the exporter company.

b) The "Declaration on Payment of Foreign Exchange Conversion Support to the Supplier/Manufacturer within the Scope of the Inward Processing Regime" in Annex: F is submitted to the intermediary bank by the exporter and the supplier/manufacturer company.

c) Within the scope of the Inward Processing Regime, a copy (physical or electronic) of the letter given to the supplier/manufacturer regarding the cancellation of the value added tax deferred by the relevant tax office and the invoices containing the statement "KDV has not been collected pursuant to the provision of the temporary Article 17 of the VAT Law No. 3065" in the annex of this letter are submitted to the intermediary bank. If the said letter and the invoices in its annex can be viewed via a verifiable code, the intermediary bank performs its controls within the scope of this paragraph through the said records.

ç) The date of the cancellation letter obtained from the tax office may be at most one year prior to the date of application for foreign exchange conversion support. This matter is checked by the intermediary bank. However, it is possible for the invoices in the annex of the letter to be dated earlier.

d) It is checked by the intermediary bank that the amount of foreign exchange sold to the Central Bank does not exceed the total amount of the invoices submitted within the scope of this paragraph and subject to the relevant foreign exchange conversion support transaction. In this control, only the invoices issued by the supplier/manufacturer company to the relevant exporter company are taken into account. The equivalent of the invoice amounts in the foreign currency sold to the Central Bank is calculated over the indicative foreign exchange buying rates or cross rates published on the Central Bank's website at 15:30 on the business day preceding the invoice date.

e) The Turkish lira equivalent of the foreign currency sold to the Central Bank is transferred to the exporter company's account, and the foreign exchange conversion support amount is transferred directly to the supplier/manufacturer company's account.

(16) (Added Paragraph: 26/10/2026) Within the scope of this Implementation Instruction, the forms and documents required to be submitted by companies may be accepted provided that they are wet-signed, e-signed, or approved with digital approval methods in accordance with the procedures and principles determined within the framework of Article 76 of the Banking Law No. 5411.

(17) (Added Paragraph: 11/11/2026) Suppliers/manufacturers of exporter companies holding a HİS Certificate may benefit from the foreign exchange conversion support based on the amount of intermediate goods supplied for the exports realized by the exporter companies in the last 1 year. Within the scope of this paragraph, in return for the export proceeds being sold to the Central Bank by the exporter company, it is possible to pay the foreign exchange conversion support to the supplier/manufacturer company if the following conditions are met.

a) The request form and the foreign exchange position notification form are submitted by the exporter company to the intermediary bank.

b) The "Declaration Regarding the Payment of Foreign Exchange Conversion Support to the Supplier/Manufacturer of the HİS Certified Exporter" in Annex: G, jointly prepared and signed by the exporter and supplier/manufacturer companies, and the invoices issued by the supplier/manufacturer company to the exporter company are submitted to the intermediary bank during the foreign exchange sale. The list annexed to the declaration is prepared separately for the different intermediate goods supplied by the supplier/manufacturer company for the exporter company or for the different final export products in which the same intermediate good is used. It is possible for the foreign exchange sale to be made within the scope of customs declarations that are not included in the list annexed to the declaration or for which no contribution is made by the supplier/manufacturer company.

c) In the lists annexed to the declaration, the quantity of the final product exported within the scope of the customs declarations in the lists and, in the last row of the lists, the quantity of intermediate goods required to produce that quantity of final product are included. The intermediary bank, submitted by the supplier/manufacturer company

in the invoices, by separating the intermediate goods defined in the lists, checks that at least the amount of intermediate goods calculated in the last rows of the lists is invoiced and, by calculating the total amount of intermediate goods used in the export over the unit prices excluding VAT in the invoices, that this amount covers the amount of foreign currency sold to the Central Bank. The equivalent of the invoice amounts in the foreign currency sold to the Central Bank is calculated over the indicative foreign exchange buying rates or cross rates published on the Central Bank's website at 15:30 on the business day preceding the invoice date.

ç) The intermediary bank checks the validity of the exporter company's HİS Certificate and the capacity reports of the exporter and supplier/manufacturer companies. Furthermore, it checks that the exporter company produces the final export products defined in the lists annexed to the declaration in Annex: G in its capacity report, and that the supplier/manufacturer company produces the intermediate goods defined in the lists annexed to the declaration in Annex: G in its capacity report.

(d) The Turkish lira equivalent of the foreign currency sold to the Central Bank is transferred to the exporter company's account, and the foreign exchange conversion support amount is transferred directly to the supplier/manufacturer company's account.

Company sales limits

ARTICLE 6 – (1) The Turkish lira equivalent of the total amount of foreign currency that companies may sell to the Central Bank within the limit utilization period under this Implementation Instruction cannot exceed the company sales limit for the said period. The company sales limit not used in a limit utilization period is not transferred to the following limit utilization period.

(2) The company sales limit is calculated by the Central Bank based on the company profitability and 12-month labor cost data. If the company incurs a loss in the relevant period, only the labor cost is taken as the basis in the calculation of the value-added amount. Following the arrival of the said data at the Central Bank, the necessary processing, matching and control processes are carried out, and upon completion of these processes, the data to be used in the calculation of the value-added amount are considered finalized by the Central Bank.

(3) In determining the company profitability, the operating profit amount declared by the companies to the Revenue Administration is taken as the basis. The labor cost consists of the total of the salary/wage payments submitted to the Social Security Institution and constituting the basis for the companies' insurance premium calculations, and the social security premium amounts paid on behalf of the employees.

(4) The company sales limit is updated twice a year by the Central Bank. Updates are essentially made in January and July. If the data cannot be obtained in January and July for any reason, the update process is carried out following the provision of the data. The calculated company sales limit is considered finalized until the next limit update date, provided that the provision in the fifth paragraph of this article is reserved.

(5) If there is no operating profit data or if the operating profit data exhibits unusual characteristics that would prevent it from being taken as a basis in the calculation of the company sales limit, the Central Bank makes the company sales limit calculation based only on labor cost. Among the companies requesting foreign exchange conversion support, those within this scope, if they certify their operating profits to the intermediary banks with an e-YMM full certification report containing the financial data for the year used in the calculation of the company sales limit in the current limit utilization period, the operating profit amount determined in the e-YMM full certification report is included by the Central Bank in the company sales limit calculation.

(6) In the event that the firm's sales limit is updated and the new limit remains below the total amount of foreign currency the firm sold to the Central Bank during the relevant limit utilization period, no refund of the foreign currency conversion support shall be requested from the firm due to the difference. If, as a result of an upward update of the firm's sales limit, an available firm sales limit arises, the firm may benefit from the foreign currency conversion support again based on the new firm sales limit that has arisen.

(7) If the firm's sales limit has been fully utilized within the relevant limit utilization period or, in the event that an update is made within the scope of the fourth paragraph of this article, no available firm sales limit arises, the firm cannot benefit from the foreign currency conversion support until the beginning of the following limit utilization period.

(8) The controls regarding the firm's sales limits and the utilization of the total amount of foreign currency sold within the scope of the firm's sales limit shall be carried out by the Central Bank. While determining the amount of foreign currency the firm may sell to the Central Bank for each transaction within the firm's sales limit, the Turkish lira equivalent of the foreign currency amount calculated over the conversion rate shall be taken into account.

(9) In advance export transactions, firm sales limit controls shall be carried out during the sale of foreign currency to the Central Bank, and the Turkish lira equivalent of the sold foreign currency amount calculated over the conversion rate shall be deducted from the firm's sales limit.

(10) If, for any reason, the foreign currency conversion support cannot be benefited from after the foreign currency sale or the foreign currency conversion support is refunded, the amounts deducted from the firm's sales limit or from the maximum foreign currency conversion support specified in the fifth paragraph of Article 5 of this Implementation Instruction due to the said foreign currency sale shall not be added back to the firm's sales limit or to the maximum foreign currency conversion support specified in the fifth paragraph of Article 5 of this Implementation Instruction.

(11) (Added Paragraph: 26/10/2026-11/11/2026) In transactions where the foreign currency conversion support is paid to the supplier/manufacturer firm within the scope of the sixth, fifteenth and seventeenth paragraphs of Article 5 of this Implementation Instruction, the Turkish lira equivalent of the foreign currency amount sold to the Central Bank calculated over the conversion rate shall be deducted from the supplier/manufacturer firm's firm sales limit; and the amount of foreign currency conversion support paid shall be deducted from the same firm's maximum foreign currency conversion support amount specified in the fifth paragraph of Article 5 of this Implementation Instruction.

Duties, powers and obligations of intermediary banks

ARTICLE 7- (1) (Amended: 26/10/2026) The intermediary bank shall receive and keep in its possession the foreign currency position notification form prepared by the SMMM or YMM and approved by the SMMM or YMM and the firm. It is mandatory that the annex to the foreign currency position notification form include the "Activity Certificate" showing that the SMMM or YMM who approved the form is registered in the employees list of the professional chamber to which they are affiliated. For other foreign currency position notification forms prepared and approved by the same SMMM or YMM within three months from the submission of the Activity Certificate to the intermediary bank, the submission of the said activity certificate shall be sufficient. The intermediary bank shall check that the firm's foreign currency assets in its possession are accurately reflected in the form, that the foreign currency position ratio reported in the form is calculated in accordance with the formula in the form, and the validity and accuracy of the activity certificate submitted via the QR code on the document or other verification means provided by the relevant professional organizations.

(2) The determination that the foreign currencies to be sold to the Central Bank are of foreign origin shall be made by the intermediary banks. In order for foreign currency transfers coming from banks in Turkey to be subject to the foreign currency conversion support, it is mandatory that the firm document to the intermediary bank the documents in the seventh paragraph of Article 8 of the Export Communiqué dated 16 January 2020 for the export of goods, in addition to the SWIFT message from the domestic bank making the transfer showing that the funds came from abroad. Intermediary banks shall request from firms all information and documents they deem necessary in order to determine that the funds coming from the domestic bank are of foreign origin. Foreign currency conversion support requests for amounts not documented as coming from abroad shall not be accepted.

(3) (Amended: 26/10/2026) The intermediary bank shall determine that, in the time period between the date the export proceeds are credited to the firm's account and the date the request to benefit from the foreign currency conversion support is made, the firm's account balance did not fall below the amount of the foreign currency sale to be made to the Central Bank and that the balance was not made available with foreign currencies that are not export proceeds. In cases where this determination cannot be made, no foreign currency sale shall be carried out within the scope of the foreign currency conversion support.

(4) Within the scope of the sixth and seventh paragraphs of Article 5 of this Implementation Instruction, the existence of a supply/manufacturing relationship within the scope of export between the firms reported as supplier/manufacturer and intermediary exporter shall be determined through additional controls and evaluations to be made by the intermediary bank and through documentary information and documents. In cases where the said relationship cannot be determined, no foreign currency sale shall be carried out within the scope of the foreign currency conversion support.

(5) In the foreign currency conversion support transactions of firms within the scope of foreign exchange earning service exports, it shall be determined through additional controls and evaluations to be made by the intermediary bank and through documentary information and documents that the services specified in the invoices they submit are provided by the firm to the buyer abroad. In cases where this determination cannot be made, no foreign currency sale shall be carried out within the scope of the foreign currency conversion support.

(6) In the event that the foreign exchange conversion support is intermediated by a bank other than the intermediary bank recorded in field number 28 titled "Financial and Banking Data" of the Customs Declaration and field number 10 of the Free Zone Transaction Form, the bank performing the transaction cannot sell foreign exchange to the Central Bank within the scope of this Implementation Instruction without obtaining confirmation from the intermediary bank specified in field number 28 of the customs declaration and field number 10 of the Free Zone Transaction Form that the overseas sales amount subject to the conversion support has not previously been sold to the Central Bank.

(7) All controls regarding whether all types of transactions to be carried out within the scope of this Implementation Instruction are carried out in accordance with national and international standards regarding the prevention of money laundering and financing of terrorism, and controls regarding whether the transactions are carried out in accordance with this Implementation Instruction, shall be performed by intermediary banks. In the event that a violation is detected, the situation shall be immediately reported to the Central Bank by the intermediary bank performing the transaction.

(8) For excess amounts transferred by the Central Bank to the intermediary bank due to errors and notification discrepancies originating from the intermediary bank, interest shall be applied at the policy rate of the Central Bank valid in the relevant period for the duration until the transfer is made. In the event that the excess transfer is recorded in the intermediary bank's required reserve account, the said amount shall not be counted towards required reserve provisions.

(9) In transactions for which foreign exchange conversion support will be requested from the Central Bank, in order for correction transactions for operational errors alleged to originate from the intermediary bank to be accepted by the Central Bank, the error must be detected within at most five business days from the transaction date and must be evidenced by the intermediary bank's records. Information and documents pertaining to the said transactions shall be kept at the intermediary bank and shall be presented to the Central Bank upon request. Correction transactions for errors originating from companies shall not be accepted by the Central Bank.

(10) Intermediary banks shall open accounts in US dollars, Euro and British pound foreign exchange types on behalf of the Central Bank, and shall transfer the foreign exchanges related to the requests they collect within the scope of foreign exchange conversion support to the said accounts. Notifications pertaining to these transactions shall be transmitted to the Central Bank electronically by 16.00 on full business days and by 12.30 on half business days. Notifications pertaining to transactions carried out by intermediary banks after the specified times shall be transmitted on the next business day.

(11) Receipts pertaining to the foreign exchanges transferred to the Central Bank's account by intermediary banks and information pertaining to the amounts converted shall be notified to the Central Bank electronically on the same day by intermediary banks in accordance with the notification form in Annex: A.

(12) In foreign exchange transfers that the bank will send to its own correspondent regarding foreign exchange amounts to be transferred to the Central Bank with one day value within the scope of this Implementation Instruction; in the pacs009 message, "EXCHANGE SUPPORT" shall be written in the End To End Identification field, "/BNF/ BANKA ADI EXCHANGE SUPPORT" in the Instruction For Creditor Agent-Instruction Information field, the IBAN information pertaining to the account to be notified by the Central Bank for the said transactions in the Creditor Account-Identification-IBAN field, and "TCMBTR2A" in the Creditor-Financial Institution Identification-BICFI field.

(13) The "Foreign Exchange Conversion Support Transactions Intermediary Bank Undertaking" shall be obtained by the Central Bank from intermediary banks.

(14) Intermediary banks may collect a commission at a maximum rate of 1 percent of the foreign exchange conversion support amount paid to companies from the companies.

False declaration and improper use

ARTICLE 8- (1) In the event that it is determined that companies have benefited from foreign exchange conversion support by submitting improper, contrary to purpose or false information and documents; the foreign exchange conversion support amounts paid shall be multiplied by the higher of the foreign exchange buying rate announced by the Central Bank at 11.00 on the determination date and the conversion rate used in the foreign exchange conversion support payment. The total amount to be obtained by adding to the amount obtained as a result of the multiplication the interest to be calculated for the period from the foreign exchange sales date to the date of determination at the highest overnight lending interest rate announced by the Central Bank valid on the determination date and the Bank and Insurance Transactions Tax amounts to accrue shall be collected from the companies by intermediary banks and transferred to the Central Bank. In the calculation of interest, one year shall be taken as 365 days.

(2) Within the scope of the first paragraph of this article, the foreign exchange conversion support requests of companies about which a determination has been made and their Central Bank-sourced loan applications and utilization requests shall not be accepted as of the determination date. The foreign exchange conversion support requests of the said companies and their Central Bank-sourced loan applications and utilization requests shall not be accepted for 1 year for the first determination and for 3 years for subsequent determinations, starting from the date the amount calculated pursuant to the first paragraph of this article is paid by the company to the intermediary bank. In this case, the decision to file a criminal complaint against the relevant persons shall be made by the Central Bank.

(3) Within the scope of the first paragraph of this article, determinations by the Central Bank that a company is considered to be connected with each other shall be counted as a single determination for the application of the periods specified in the second paragraph of this article.

(4) Until the amount calculated pursuant to the first paragraph of this article is paid by the relevant company, during the period,

a) The requests for foreign exchange conversion support and Central Bank-sourced loan applications and utilization requests of the companies controlled by the relevant company,

b) The requests for foreign exchange conversion support and Central Bank-sourced loan applications and utilization requests of the companies controlling the relevant company,

c) The requests for foreign exchange conversion support and Central Bank-sourced loan applications and utilization requests of the companies controlled by the real and legal persons controlling the relevant company

shall not be accepted. Intermediary banks are obliged to report the companies they determine within this scope to the Central Bank.

(5) Intermediary banks are obliged to report the foreign exchange conversion support transactions they consider suspicious to the Central Bank.

(6) Intermediary banks are responsible for collecting the amount calculated pursuant to the first paragraph of this article from the companies and paying it to the Central Bank. The amounts not transferred to the Central Bank by the intermediary bank within 1 month from the date the said amount is requested by the Central Bank shall be collected ex officio from the intermediary bank's accounts with the Central Bank.

(7) The Central Bank, by evaluating together the nature, scope, repetition status of the determination made within the scope of the first paragraph of this article and the matters arising within the scope of examination, investigation or lawsuit, decides that the companies' foreign exchange conversion support and Central Bank-sourced loan applications and utilization requests shall not be accepted independently of the period and amount specified in the second and eighth paragraphs of this article.

(8) In cases where the total foreign exchange conversion support amount utilized by the companies within the scope of the determinations made pursuant to the first paragraph of this article does not exceed 100.000 (one hundred thousand) Turkish liras, provided that the amount calculated within the scope of the first paragraph of this article is paid by the company to the intermediary bank, the period restrictions specified in the second paragraph of this article shall not apply.

Examination and audit

ARTICLE 9- (1) The Central Bank may request the companies to submit the information and documents it will determine to the intermediary bank or to itself within the scope of this Implementation Instruction. As a result of the evaluation to be made on the information and documents submitted by the companies or obtained from other sources, it may take into examination the companies it deems suspicious or necessary. The foreign exchange conversion support requests of the companies that do not submit the requested information and documents to the intermediary bank or the Central Bank shall not be accepted until the relevant information and documents are submitted and the examination is completed. The fact that the examination has been made by the intermediary bank does not eliminate the responsibility of the intermediary bank under the audits or examinations to be made later by the Central Bank and within the scope of this Implementation Instruction and other relevant regulations.

(2) The Central Bank may request the intermediary banks to take additional measures regarding the foreign exchange conversion support transactions it deems suspicious.

(3) As a result of the examination, the foreign exchange conversion support request of the companies about which a determination is made within the scope of the first paragraph of Article 8 of this Implementation Instruction shall not be accepted. The provisions of the first and second paragraphs of Article 8 of this Implementation Instruction shall apply to the said companies. In case no determination is found as a result of the examination, the foreign exchange conversion support request of the companies shall be accepted as of the date the examination is concluded.

CHAPTER THREE

Miscellaneous and Final Provisions

Other provisions

ARTICLE 10- (1) All expenses related to the foreign exchange transfers made by the intermediary bank to the Central Bank shall be paid by the Central Bank in Turkish liras until the last business day of the following month, based on the foreign exchange buying rate announced by the Central Bank at 11.00 on the payment day, upon the camt.106 message sent by the intermediary bank collectively on a monthly basis.

(2) Apart from the determinations within the scope of the first paragraph of Article 8 of this Implementation Instruction, in case any situation requiring the return of the foreign exchange conversion support amount is determined, the return process shall be initiated for the said amounts. In case the companies do not return the relevant foreign exchange conversion support amount, the sixth paragraph of Article 8 of this Implementation Instruction shall apply and the foreign exchange conversion support requests of the relevant companies shall not be accepted until the date the relevant foreign exchange conversion support amount is collected from the companies.

(3) (Amended: 26/10/2026-11/11/2026) In the control of the company sales limit and the maximum foreign exchange conversion support specified in the fifth paragraph of Article 5 of this Implementation Instruction and in the monitoring of its utilization, the "Exporter Company VKN" field shall be taken as basis. In this framework, in the Annex: A notifications, the tax identification number of the company on whose behalf the request form and the foreign exchange position notification form are issued and which will benefit from the foreign exchange conversion support shall be written in the "Exporter Company VKN" field, the tax identification number of the intermediary exporter shall be written in the "DTSŞ VKN" field, and the tax identification number of the main partner/partners, if any, shall be written in the "Main Partner VKN" field. In the "Company Name" field, the title of the company whose tax identification number is in the "Exporter Company VKN" field shall be written. However;

a) In transactions where the foreign exchange conversion support is paid to the supplier/manufacturer company within the scope of the fifteenth paragraph of Article 5 of this Implementation Instruction regarding the Inward Processing Regime, regardless of whether the request form and the foreign exchange position notification form are submitted by the exporter company, the tax identification number of the supplier/manufacturer company that will benefit from the foreign exchange conversion support shall be written in the "Exporter Company VKN" field in the Annex: A notifications. In the "DİR VKN" field, the tax identification number of the exporter company that carries out the transaction within the scope of the Inward Processing Regime shall be written.

b) In transactions where the foreign exchange conversion support is paid to the supplier/manufacturer company within the scope of the seventeenth paragraph of Article 5 of this Implementation Instruction, regardless of whether the request form and the foreign exchange position notification form are submitted by the exporter company, the tax identification number of the supplier/manufacturer company that will benefit from the foreign exchange conversion support shall be written in the "Exporter Company VKN" field in the Annex: A notifications. In the "HİS VKN" field, the tax identification number of the exporter company that carries out the export transaction within the scope of the HİS Certificate shall be written.

(4) It is essential that companies transmit their information, document and opinion requests regarding the transactions established within the scope of this Implementation Instruction to the Central Bank through intermediary banks.

(5) Even in case the export is cancelled without the intent or fault of the company, the foreign exchange conversion support amount calculated on the cancelled export amount shall be returned to the Central Bank.

(6) Other details regarding the operational processes within the scope of this Implementation Instruction shall be determined by the Central Bank.

Non-purchase of foreign exchange commitments within the scope of the repealed Implementation Instruction

PROVISIONAL ARTICLE 1- (1) In case the non-purchase of foreign exchange commitments given by the companies before the date this article enters into force are not fulfilled, the provisions of the repealed Implementation Instruction shall apply.

Prepaid export proceeds within the scope of the Repealed Implementation Instruction

PROVISIONAL ARTICLE 2- (1) In foreign exchange conversion support transactions related to prepaid proceeds whose sale to the Central Bank was realized before the date this article entered into force, the provisions of the Repealed Implementation Instruction shall apply.

False declaration and improper use within the scope of the Repealed Implementation Instruction

PROVISIONAL ARTICLE 3- (1) For companies determined to have improperly benefited from foreign exchange conversion support or to have made false declarations to the Central Bank or intermediary banks within the scope of the Repealed Implementation Instruction before the date this article entered into force, foreign exchange conversion support and Central Bank-sourced loan applications and utilization requests shall be accepted 1 year after the date the amount calculated pursuant to the Repealed Implementation Instruction was paid.

(2) For companies within the scope of the first paragraph of this article, if a new determination is made after the date this article entered into force within the scope of the first paragraph of Article 8 of this Implementation Instruction, determinations made before the date this article entered into force shall not be taken into account in determining the periods specified in the second paragraph of Article 8 of this Implementation Instruction. In this context, the first determination made after the effective date shall be considered the first determination with respect to the second paragraph of Article 8 of this Implementation Instruction.

(3) In cases where the total foreign exchange conversion support amount benefited from by companies within the scope of the first paragraph of this article, within the determinations made under the first paragraph of Article 8 of this Implementation Instruction, does not exceed 100.000 (one hundred thousand) Turkish liras, provided that the amount calculated under the first paragraph of Article 8 of this Implementation Instruction is paid by the company to the intermediary bank, the periods specified in the second paragraph of Article 8 of this Implementation Instruction shall not apply.

Pro-rata period calculations

PROVISIONAL ARTICLE 4- (1) The company sales limit to be calculated as of 1/10/2026, the effective date of the Implementation, shall be applied by multiplying by a coefficient of 0,25 in the limit utilization period covering the date range between 1/10/2026 and 31/12/2026 (inclusive of this date), solely for this period. For this specific period, the foreign exchange amounts that companies sold before 1/10/2026 shall not be taken into account in the calculation of the remaining company sales limit.

(2) In the limit utilization period covering the date range between 1/10/2026 and 31/12/2026 (inclusive of this date), the maximum foreign exchange conversion support amount that companies specified in the fifth paragraph of Article 5 of this Implementation Instruction may benefit from shall be applied by multiplying by a coefficient of 0,25. For this specific period, the foreign exchange conversion support amounts that companies benefited from before 1/10/2026 shall not be taken into account within the scope of this limit.

Repealed Implementation Instruction

ARTICLE 11- (1) The "Implementation Instruction Regarding the Communiqué on the Support for the Conversion of Companies' Foreign-Sourced Foreign Exchange into Turkish Lira" dated 26/1/2023 has been repealed.

Effective date

ARTICLE 12- (1) This Implementation Instruction enters into force on 1 October 2026.

Execution

ARTICLE 13- (1) The Governor of the Central Bank of the Republic of Turkey shall execute this Implementation Instruction.

ANNEXES:

1- Form Regarding the Support for the Conversion of Foreign-Sourced Foreign Exchange (ANNEX: A)

2- Foreign Exchange Conversion Support Request Form (ANNEX: B)

3- List of Companies with Control Relationship (ANNEX: B1)

4- Foreign Exchange Conversion Support Foreign Exchange Position Notification Form (ANNEX: C)

5- Declaration Regarding Foreign Exchange Sale within the Scope of ETGB (ANNEX: D)

6- Declaration Regarding the Payment of Foreign Exchange Conversion Support to the Supplier/Manufacturer within the Scope of Intermediated Export (ANNEX: E)

7- Declaration Regarding the Payment of Foreign Exchange Conversion Support to the Supplier/Manufacturer within the Scope of the Inward Processing Regime (ANNEX: F)

8- Declaration Regarding the Payment of Foreign Exchange Conversion Support to the Supplier/Manufacturer of the HİS Certified Exporter (ANNEX: G)

Contact Information : General Directorate of Treasury and Corporate Operations

Date the Instruction was Published
01.10.2026
Date the Instruction was Amended
26.10.2026

FORM REGARDING THE SUPPORT FOR THE CONVERSION OF FOREIGN-SOURCED FOREIGN EXCHANGE

ANNEX-A NOTIFICATION DATE : BANK CODE : CURRENCY TYPE :
01/10/2026
0001 USD
01/10/2026

TRANSACTION INFORMATION

TRANSACTION DATE COMPANY NAME TRANSACTION TYPE (E/H/Y) BASE FOREIGN EXCHANGE AMOUNT FOREIGN EXCHANGE AMOUNT (A) EXCHANGE RATE (B) TL AMOUNT (C=AB) SUPPORT RATE (%) (D) SUPPORT FOREIGN EXCHANGE AMOUNT (E= AD/100) SUPPORT TL AMOUNT (F=B*E) TOTAL AMOUNT(G=C+F) Related Notification Number Related Notification Date Exporter Company Tax ID Dtss Tax ID Main Partner Tax ID Related Vhrib Document Date Related Vhrib Document No Valuation Parity Information Foreign Exchange Sale USD Equivalent Dp Date Dp Rate NOTE: THE FORM SHALL BE FILLED OUT SEPARATELY FOR EACH CURRENCY TYPE.

FOREIGN EXCHANGE CONVERSION SUPPORT REQUEST FORM

TO THE CENTRAL BANK OF THE REPUBLIC OF TURKEY AND ……………….…. BANK

Within the scope of the Implementation Instruction Regarding the Communiqué on the Support for the Conversion of Companies' Foreign-Sourced Foreign Exchange into Turkish Lira (Implementation Instruction), this request form has been issued by us in order to benefit from the foreign exchange conversion support for the …………… foreign exchange amount to be sold to the Central Bank of the Republic of Turkey (Central Bank) through your Bank.

In this context;

We accept that the rules contained in the Implementation Instruction have been explained to us by the intermediary bank, that we accept the said rules, that the foreign exchange conversion support will not be paid if it is determined that our company sales limit determined by the Central Bank is insufficient, that we will not request the return of the foreign exchanges sold within the scope of this request form under any circumstances, that the Foreign Exchange Position Notification Form and all other information, documents and data submitted to the intermediary bank are accurate, complete and true; that the said information, documents and data will be taken as basis in the evaluation of the conditions for benefiting from the foreign exchange conversion support and that we are responsible for the consequences that may arise from false or incomplete declarations, that in the event of any situation requiring the partial or complete recovery of foreign exchange conversion support payments, we hereby consent in advance to the amount to be collected being collected ex officio from all kinds of our accounts with the intermediary bank and transferred to the Central Bank without the need for any further instruction, approval, notice or warning from us; that all kinds of information, documents and data in your possession, declared by us, submitted or generated during the transaction process may be used by the Central Bank and intermediary banks;

Evaluation, execution, monitoring and auditing of foreign exchange conversion support transactions,
Sharing with authorized public institutions and organizations as required by legislation

we irrevocably accept that we consent to their use, recording, storage, processing and sharing for these purposes, that the necessary information has been provided to us within the framework of banking and foreign exchange legislation and that we have our explicit consent, and we request that our application for foreign exchange conversion support be processed within this framework.

Furthermore, the information regarding the companies with which there is a control relationship within the scope of subparagraph (ğ) of the first paragraph of Article 3 and the fourth paragraph of Article 8 of this Implementation Instruction has been fully declared in the ANNEX: B1 List of Companies with Control Relationship, which is an integral part of this request Form.

We accept, declare and undertake that the information declared within the scope of ANNEX: B1 is complete, accurate and up-to-date; that no company or person required to be notified within the scope of the control relationship has been omitted; that we will notify the intermediary bank of any changes in the declared information and that in case of false or incomplete declarations, the provisions stipulated in the Implementation Instruction will be applied.

Our declaration regarding whether or not unrequited imports were made within the scope of the export transaction subject to this request form is as follows.

We have unrequited imports
We do not have unrequited imports

Unrequited Import Amount: ……………………….

Date:
Company TIN and Title:
Authorized Person(s) and Signatures:

ANNEX: B

ANNEX: B1

LIST OF COMPANIES WITH CONTROL RELATIONSHIP1

Control relationship types within the scope of subparagraph (ğ) of the first paragraph of Article 3 and the fourth paragraph of Article 8 of the Implementation Instruction Regarding the Communiqué on the Support of the Conversion of Companies' Foreign-Sourced Foreign Exchange into Turkish Lira (Implementation Instruction);

A: Companies controlled by our company

B: Companies controlling our company

C: Companies controlled by real or legal persons controlling our company

are declared in the table below.

Sequence Number	Company Title	TIN	Control Relationship Type	Name/Title of Controlling Real/Legal Person
1			A/B/C
2			A/B/C
…..			A/B/C

We accept, declare and undertake that the information declared in this table is complete, accurate and up-to-date, that no company or person required to be notified within the scope of the control relationship has been omitted; that we will notify the intermediary bank of any changes in the declared information, that in our foreign exchange conversion support requests after this declaration, if there is a change in the declared information, we will submit the updated list to the intermediary bank and that in case of false or incomplete declarations, the provisions stipulated in the Implementation Instruction will be applied.

Date:
Company TIN and Title:
Authorized Person(s) and Signatures:

[1] If this list has been previously sent by the company to the intermediary bank and there is no need for any update in the list, the list previously submitted to the intermediary bank shall be deemed valid.

ANNEX: C FOREIGN EXCHANGE CONVERSION SUPPORT FOREIGN EXCHANGE POSITION NOTIFICATION FORM (Do not delete rows or columns. Write the amounts only with numbers, without spaces. This form is valid for 3 months from the date of issuance in foreign exchange conversion support transactions.) Date of Issuance:

Company Title
TIN		Phone / E-mail
I - ASSETS (FOREIGN EXCHANGE AND GOLD ASSETS AS OF THE DATE OF ISSUANCE)	TL EQUIVALENT	II - LIABILITIES (FOREIGN EXCHANGE AND GOLD LIABILITIES AS OF THE DATE OF ISSUANCE)	TL EQUIVALENT
1.1. Cash		2.1. Financial Debts
1.2. Cheques Received		2.1.1. Loans
1.3. Banks		2.1.1.1. Domestic Loans
1.3.1. Domestic Deposits		2.1.1.2. Foreign Loans
1.3.2. Foreign Deposits		2.1.2 Financial Leasing Debts
1.4. Cheques Issued and Payment Orders		2.1.3. Securities Issued
1.5. Other Liquid Assets		2.1.4. Other Financial Liabilities
1.6. Securities		2.2. Trade Payables
1.7. Trade Receivables		2.2.1. Domestic Trade Payables
1.7.1. Domestic Trade Receivables		2.2.2. Foreign Trade Payables
1.7.2. Foreign Trade Receivables		2.3. Payables to Shareholders, Associates and Subsidiaries
1.8. Receivables from Shareholders, Associates and Subsidiaries		2.4. Other Payables
1.9. Other Receivables		2.5. Advances
1.10. Construction and Repair Costs Spread Over Years		2.6. Construction and Repair Progress Billings Spread Over Years
1.11. Income Accruals		2.7. Expense Accruals
A. Total Liquid Foreign Currency Assets (1.1 + 1.2. + 1.3 - 1.4 + 1.5 + 1.6 + 1.8)		B. Net Sales Revenue (TL)
C. Total Assets (TL/FC All Assets) (TL)		Foreign Currency Position Ratio (A / max{B, C})
Compliance of the Foreign Currency Position Ratio

I declare that I have counted the physical foreign currency and gold assets reported in this form on the date of form preparation, that I have determined the balance of book-entry foreign currency and gold assets on the date of form preparation through documents such as account statements, deeds and contracts, and that I have filled in all information in the form accurately, completely and fully in accordance with the form explanations.

Signature/Stamp
Name surname
CPA/Sworn CPA

We declare that we permit the information belonging to our company contained in this form to be shared with the Central Bank of the Republic of Turkey and the intermediary bank, and that it is accurate, complete and full.

General Manager signature and stamp
Finance Manager signature and stamp

Foreign Currency Position Ratio:

1.1. Cash + 1.2. Cheques Received + 1.3. Banks — 1.4. Cheques Given and Payment Orders + 1.5. Other Liquid Assets + 1.6. Securities + 1.8. Receivables from Shareholders, Associates and Subsidiaries The Amount Greater Than Assets or Net Sales Revenue

Explanations:

(1) In filling out the form, the explanations in the document titled “Systemic Risk Data Tracking System Explanation Form” available at www.tcmbveri.gov.tr are taken into consideration.

(2) The Foreign Currency Conversion Support Foreign Currency Position Notification Form is prepared and signed by the CPA/Sworn CPA, then the accuracy of the information in the form is confirmed and signed by the company officials and submitted to the intermediary bank.

(3) The form is submitted to the intermediary bank with a wet signature or electronic signature. If the form is to be submitted to more than one intermediary bank, as many copies as needed are prepared and signed.

(4) The TL equivalent of gold/foreign exchange assets as of the notification preparation date shall be calculated and entered using the foreign exchange buying rates announced by the CBRT on the first business day of the current year for foreign exchange assets, and the gold prices announced by Borsa Istanbul on the first business day of the current year for gold assets.

(5) An asset indexed to foreign exchange or gold is counted as a foreign exchange or gold asset.

(6) The shaded areas not used in the calculation of the foreign exchange position ratio shall not be filled in.

(7) The total asset amount is the most recent year-end balance sheet asset amount reported in the annual tax returns submitted to the Revenue Administration, and the net sales revenue is the total annual net sales revenue contained in the same return.

(8) Checks given and payment orders are reported as a positive value. However, attention should be paid that this value must be deducted from the total of ready foreign exchange assets in the calculation of the foreign exchange position ratio.

(9) In the absence of an authorized person with the title of General Manager and/or Finance Manager in the company, the form may be signed by the senior official or officials authorized to represent the company, by applying this rule by analogy.

ANNEX:

"Certificate of Activity" showing that the SMMM or YMM is registered in the list of employees of the professional chamber to which they are affiliated.

ANNEX: DECLARATION REGARDING FOREIGN EXCHANGE SALES WITHIN THE SCOPE OF D ETGB ...........................................TO THE BANK

Our company, within the scope of the tenth paragraph of Article 5 of the "Implementation Instruction on the Circular Regarding the Support of the Conversion of Companies' Foreign Exchange from Foreign Sources into Turkish Liras (Implementation Instruction)";

undertakes that it will carry out the transactions for the conversion into Turkish lira of foreign exchange amounts from foreign sources relating to our export transactions subject to ETGB, exclusively with your bank for a period of three (3) months,
undertakes that it will not carry out any foreign exchange sales, foreign exchange conversion support applications or similar transactions within the said scope through any other bank during this period,
undertakes that, in the event that the contrary is detected, all responsibilities that may arise within the framework of the relevant legislation and the Implementation Instruction shall belong to us,

we accept, declare and undertake irrevocably.

This declaration has been prepared as the basis for benefiting from foreign exchange conversion support based on ETGB, and in the event of a declaration contrary to the truth, all legal, administrative and financial consequences that may arise shall belong to us.

Date:
Company Tax ID and Title:
Authorized Person(s) and Signatures:

ANNEX: DECLARATION REGARDING THE PAYMENT OF FOREIGN EXCHANGE CONVERSION SUPPORT TO THE SUPPLIER/MANUFACTURER WITHIN THE SCOPE OF E INTERMEDIARY EXPORT ...........................................TO THE BANK

Pursuant to the sixth and seventh paragraphs of Article 5 of the "Implementation Instruction on the Circular Regarding the Support of the Conversion of Companies' Foreign Exchange from Foreign Sources into Turkish Liras (Implementation Instruction)";

that we have carried out a foreign exchange conversion support transaction within the scope of the intermediary export contract,
that we have submitted our intermediary export contract to the intermediary bank,
that the export amounts we sold with a request for foreign exchange conversion support originate from the Customs Declarations (GB) and invoices listed below,
that the supplier/manufacturer company is registered in the GBs whose information is provided in the list,
that the GB and invoice matching in the list is correct, and that the supply/manufacturing within the scope of each GB in the list was carried out with the invoices on the line of the GB,
that the invoices in the list have not been used in other foreign exchange conversion support transactions,
that, in the foreign exchange conversion support transaction carried out within the scope of the exports set forth in the attached table, the TL equivalent of the sold foreign exchange will be paid to the account of the intermediary exporter, that the receivable arising from the foreign exchange conversion support payment to be made has been assigned by the intermediary exporter company to the supplier/manufacturer company, and accordingly, the foreign exchange conversion support payment will be deposited directly into the account of the supplier/manufacturer*,
undertakes that, in the event that the contrary is detected, all responsibilities that may arise within the framework of the relevant legislation and the Implementation Instruction shall belong to us,

we accept, declare and undertake irrevocably.

This declaration has been prepared as the basis for benefiting from foreign exchange conversion support within the scope of intermediary export, and in the event of a declaration contrary to the truth, all legal, administrative and financial consequences that may arise shall belong to us.

Intermediary Exporter Company Officials
Supplier/Manufacturer Company Officials
Name, Surname, Signature
Name, Surname, Signature

[*] In cases where the foreign exchange conversion support is earned directly by the supplier/manufacturer, this statement is not included.

Intermediary Exporter Company Title:
Intermediary Exporter Company Tax ID:
Supplier/Manufacturer Company Title:
Supplier/Manufacturer Company Tax ID:
Foreign Exchange Conversion Support Transaction Number:
Information on Exports Whose Amounts Were Sold Within the Scope of Foreign Exchange Conversion Support with the Intermediary Export Contract
Intermediary Exporter GB Number	Intermediary Exporter GB Amount	Supplier/Manufacturer Invoice Number	Supplier/Manufacturer Invoice Amount

ANNEX: DECLARATION REGARDING THE PAYMENT OF FOREIGN EXCHANGE CONVERSION SUPPORT TO THE SUPPLIER/MANUFACTURER WITHIN THE SCOPE OF THE INWARD PROCESSING REGIME F ...........................................TO THE BANK

Pursuant to the fifteenth paragraph of Article 5 of the "Implementation Instruction on the Circular Regarding the Support of the Conversion of Companies' Foreign Exchange from Foreign Sources into Turkish Liras (Implementation Instruction)";

that we have carried out a transaction for the payment of foreign exchange conversion support to the supplier/manufacturer within the scope of the Inward Processing Regime,
that the invoices set forth in the attached list were issued to the exporter company and contain the statements "VAT has not been collected in accordance with the provision of Temporary Article 17 of the VAT Law No. 3065",
that a copy of the letter given to the supplier/manufacturer by the relevant tax office stating that the value-added tax deferred on these invoices has been written off has been submitted to the intermediary bank, and that the invoices in the list are contained in the annex of the said letter,
that the invoices in the list have not been used in other foreign exchange conversion support transactions,
undertakes that, in the event that the contrary is detected, all responsibilities that may arise within the framework of the relevant legislation and the Implementation Instruction shall belong to our companies,
In the foreign currency conversion support transaction covered by this declaration, that the Turkish lira equivalent of the foreign currency sold will be paid to the intermediary exporter's account, that the receivable arising from the foreign currency conversion support payment to be made has been assigned by the exporting firm to the supplier/manufacturer firm, and accordingly that the foreign currency conversion support payment will be deposited directly into the supplier's/manufacturer's account,
In the foreign currency conversion support transaction covered by this declaration, that a deduction will be made from the supplier's/manufacturer's foreign currency sales limit and the maximum foreign currency conversion support amount

we accept, declare and undertake irrevocably.

This declaration has been prepared as the basis for the supplier/manufacturer to benefit from foreign currency conversion support within the scope of the Inward Processing Regime, and in the event of a declaration contrary to the truth, all legal, administrative and financial consequences arising therefrom shall be borne by us.

Exporting Firm Officials
Supplier/Manufacturer Firm Officials
Name, Surname, Signature
Name, Surname, Signature

Exporting Firm Title:
Exporting Firm VKN (Tax ID):
Supplier/Manufacturer Firm Title:
Supplier/Manufacturer Firm VKN (Tax ID):
Foreign Currency Conversion Support Transaction Number:
Invoice Information Issued by the Supplier/Manufacturer on Behalf of the Exporter Within the Scope of the Inward Processing Regime
Invoice Number	Invoice Date	Invoice Currency	Invoice Amount	Equivalent of the Amount in the Foreign Currency Sold*	Foreign Currency in Which the Amount Was Sold






Total

[*] *The equivalent of the invoice amount in the foreign currency sold within the scope of the foreign currency conversion support transaction is calculated based on the indicative foreign currency buying rates or cross rates published on the Central Bank's website at 15.30 on the business day preceding the invoice date.

ANNEX: DECLARATION ON THE PAYMENT OF FOREIGN CURRENCY CONVERSION SUPPORT TO THE SUPPLIER/MANUFACTURER OF A GHS-CERTIFIED EXPORTER …..…………………….. BANK

Pursuant to the seventeenth paragraph of Article 5 of the "Implementation Instruction on the Circular Regarding the Support of the Conversion of Firms' Foreign-Sourced Foreign Currencies into Turkish Liras" (Implementation Instruction);

That our exporting firm holds a valid Accelerated Refund System (HIS) Certificate,
That the information contained in the attached lists is true, complete and without omission,
That the intermediate goods produced by the supplier/manufacturer are used in the final products exported abroad with the customs declarations in the attached lists,
That the actual export of the GBs (Customs Declarations) in the lists took place within the last 1 year as of the date of the foreign currency conversion support application,
That all kinds of information and documents requested by the intermediary bank and the Central Bank regarding this declaration will be provided within 7 business days,
That the GBs and invoices contained in the lists have not been used by the supplier/manufacturer firm in other foreign currency conversion support transactions,
That the "quantity and unit of the intermediate good provided by the supplier/manufacturer for 1 unit of final export product" has been correctly reflected from the exporter's capacity report to the attached lists,
That the invoices issued by the supplier/manufacturer firm to the exporting firm, containing the calculated amount of intermediate goods in the last rows of the attached lists, have been submitted to the intermediary bank,
that in case of detection of any contrary situation, all responsibility that may arise within the framework of the relevant legislation and the Implementation Instruction belongs jointly and severally to our companies,
that in the foreign exchange conversion support transaction within the scope of this declaration, the Turkish lira equivalent of the foreign exchange sold will be paid to the account of the intermediary exporter, that the receivable arising from the foreign exchange conversion support payment to be made is assigned by the exporter company to the supplier/manufacturer company, and accordingly the foreign exchange conversion support payment will be deposited directly into the account of the supplier/manufacturer,
that in the foreign exchange conversion support transaction within the scope of this declaration, a deduction will be made from the foreign exchange sales limit and the maximum foreign exchange conversion support amount of the supplier/manufacturer, we accept, declare and undertake irrevocably.

This declaration has been issued in order for the supplier/manufacturer of the HİS Certified exporter to benefit from the foreign exchange conversion support, and in case of a false declaration, all legal, administrative and financial consequences shall belong to us.

Exporter Company Officials
Supplier/Manufacturer Company Officials
Name, Surname, Signature
Name, Surname, Signature

Prepare the following list separately for different final export product and intermediate goods combinations. In the list, the quantity of intermediate goods provided by the supplier/manufacturer company for the exports realized by the exporter company in the last 1 year is determined. Therefore, one customs declaration can be used only once in the lists for each supplier/manufacturer of the exporter. There is no connection between the GBs in the list and the GBs submitted by the exporter to the Central Bank during foreign exchange sales. While foreign exchange sales are made by the supplier/manufacturer company up to the export contribution determined in the last row of the list, the exporter company may submit GBs that are not included in the list or to which the supplier/manufacturer company has not contributed.

Exporter Company Title:
Exporter Company TIN:
Supplier/Manufacturer Company Title:
Supplier/Manufacturer Company TIN:
Foreign Exchange Conversion Support Transaction Number:
Name and GTIP Number of the Exported Final Product:
Name and GTIP Number of the Intermediate Goods Used in the Production of the Final Export Product:
Export Information of the Final Export Product in which the Intermediate Goods Produced by the Supplier/Manufacturer are Used
GB Number of the Final Product Exported	Export Invoice Number of the Final Product	Final Product Export Quantity in the GB or Invoice	Unit (such as piece, cm, kg)














Total (a)
Quantity and unit of intermediate goods used for 1 unit of final export product (Calculate from the exporter's capacity report.) (b)
Total quantity of intermediate goods produced by the supplier/manufacturer company within the scope of the GBs included in the list (a*b)