Financial Reconstruction Framework Agreement has been signed
The Banks Association of Turkey notified that Financial Reconstruction Framework Agreement has been signed and entered into force. Based on the notification, with this agreement, banks and other financial institutions will support the amelioration of payment capabilities of their customers that are willing to pay their debt, yet are unable to fulfill their deeds jointly or collectively. The agreement includes debitors with more than 100 million TL principal debt to Creditor Institutions as of the application date to Application Bank. Debitors with bankruptcy decisions are not part of the reconstruction.