Foreign Exchange/Indexed Credit

​Foreign Exchange Credit

It is supplied in order to finance exportation or the sales and deliveries which are regarded as exportation as well as foreign exchange generating activities;

Provided that exportation commitment is fulfilled;​

Through making the payments in Turkish Lira or transferring abroad in foreign exchange on behalf of the credit user company; but the risk is followed up as foreign exchange.

On the other hand; accrual of interest occurs in periods of 3 months, except for special cases, in these credits which can be supplied in fixed or floating interest rate.

Foreign exchange credits which are designed to facilitate exportation financing are free of tax, due, charge and fund provided that the commitment of exportation is fulfilled.

Foreign Exchange Indexed Credit

It’s a kind of credit which is indexed to a type of foreign exchange and supplied in Turkish Lira in order to finance all kinds of commerce. However; company risk is followed up as foreign exchange.

Its main difference from other types of foreign exchange credit is that it doesn’t require a commitment of exportation.

Credit needs to be paid off in its maturity through the collection of capital, interest (including rate increase), RUSF and BITT.

Foreign exchange indexed credits, which can be used without the necessity of exportation guarantee in periods when the rate increase in foreign exchange is below Turkish lira interest, are important instruments for the companies to decrease their financing costs. On the other hand, foreign exchange indexed credits enable protection against the increase in rates for the companies whose income is in foreign exchange.