RECENTLY PUBLISHED REGULATION SETS THE LEGAL STANDARDS FOR CONSUMER LOAN AGREEMENTS:

THE REGULATION ON CONSUMER LOAN AGREEMENTS WAS PUBLISHED IN THE OFFICIAL GAZETTE DATED MAY 22, 2015 (“REGULATION”). LEGAL STANDARDS APPLICABLE TO CONSUMER LOAN AGREEMENTS (“AGREEMENT”) HAVE BEEN REGULATED IN DETAIL UNDER THE REGULATION.

REGULATION ON HOUSING FINANCE AGREEMENTS SHALL HENCEFORTH APPLY TO HOUSING FINANCE TRANSACTIONS:

THE REGULATION ON HOUSING FINANCE AGREEMENTS WAS PUBLISHED IN THE OFFICIAL GAZETTE DATED MAY 28, 2015 (THE “REGULATION”), RIGHT AFTER THE REGULATION ON CONSUMER LOAN AGREEMENTS (“CONSUMER LOAN REGULATION”) GIVEN THAT THE CONSUMER LOAN REGULATION DOES NOT APPLY TO HOUSING FINANCE AGREEMENTS (“AGREEMENT”).

STATE TO ACT AS GUARANTOR FOR BUILD-OPERATE AND TRANSFER PROJECTS:

THE COUNCIL OF MINISTERS HAS RECENTLY ISSUED A REGULATION ON LIABILITY UNDERTAKINGS TO BE PERFORMED BY THE UNDERSECRETARIAT OF TREASURY (“REGULATION”).

LAND REGISTRY RECORDS IN TURKEY WILL HENCEFORTH BE KEPT UNDER AN ELECTRONIC ENVIRONMENT:

THE NEW LAND REGISTRY COMMUNIQUÉ (“COMMUNIQUÉ”) HAS BEEN ISSUED BY VIRTUE OF THE RESOLUTION OF THE COUNCIL OF MINISTERS DATED JULY 22, 2013. THE COMMUNIQUÉ WAS ISSUED IN THE OFFICIAL GAZETTE DATED AUGUST 17, 2013 AND INTRODUCED A NEW CONCEPT TO THE TURKISH LEGISLATION NAMELY LAND REGISTRY AND CADASTER INFORMATION SYSTEM (“TAKBIS”).