MUSIAD Chairman Asmalı Evaluated BRSA Loan Decision

MUSIAD President Asmali Evaluated the BRSA Decision
MUSIAD Chairman Asmalı Evaluated BRSA Decision

Mahmut Asmalı, Chairman of the Independent Industrialists' and Businessmen's Association (MUSIAD), evaluated the issues on the agenda regarding the Banking Regulation and Supervision Agency's (BDDK) loan utilization decision.

Mahmut Asmalı, President of MUSIAD, said, “To prevent dollarization, which is the main factor of the rapid increase in the exchange rate in our country; It is one of our primary goals in order to protect the value of our national currency and to fight inflation. As MUSIAD, we support the BRSA's decision limiting the use of Turkish Lira loans to companies holding surplus cash assets in foreign currency. It is obvious that the said decision will prevent the rise in inflation due to exchange rate-related cost increases. With this move of the BRSA, the foreign exchange supply-demand balance will decrease to much more reasonable levels in favor of the Turkish Lira.”

Asmalı continued his words as follows: “In addition to these; This regulation of the BRSA does not foresee any restrictions on the foreign exchange assets of the companies included in this scope and the foreign currency purchases of natural persons, it only restricts the companies' access to TL loans. Moreover, considering the exceptions and scope, the number of companies that will be affected is quite limited. In this context, the rhetoric of “intervention in the market economy” following the relevant BRSA decision is unrealistic and far from goodwill.”

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