Turkey’s Banking regulation and supervision agency announced that all credit card purchases related to airlines, travel agencies, and accommodations that provide services outside Turkey would now no longer be able to be paid in installments.
Turkish Cypriot economists fear a “blow” to the tourism industry even in Northern Cyprus, which is considered international. The new Turkish credit card regulations for Turkish credit card holders make it impossible to pay for international travel and tourism-related charges in installments.
Economist Mehmet Saydam called on “all businesses, agencies, and sectors which gather economic momentum from the tourism sector should gather immediately and demand this decision be corrected”. He called on Turkey to add an appendage to the decision, making an exception for the north.
