Inbound E-money transfers must be paid in lira only. Central Bank decision applies to firms like OMT, MoneyGram, and Western Union

Electronic money transfers from abroad will be settled exclusively in lira from now on, according to an intermediate circular by the Central Bank (BDL). The circular does not restrict domestic transfers.

The decision targets companies engaged in electronic cash transfers such as OMT, MoneyGram, and Western Union, said Riad Salameh, Governor of BDL. The circular does not apply to bank transfers.

Salameh said that BDL's move is in line with international practices and aims to combat ...

Article details