ISTANBUL, Aug 1 (Reuters) – Turkey’s banking watchdog has stopped allowing credit card payments by instalment for foreign travel, such as flights, travel agency fees and accommodation, in a step seen dealing a blow to foreign travel operators.
The move, which hit airline shares and was seen as curbing foreign currency outflows, was one of two measures announced by the BDDK watchdog late on Monday, which it said were among coordinated steps to strengthen financial stability.
Tourism operators say they have been hit in recent years by a cost-of-living crisis and weakness in the lira, which has lost half its value against the dollar since end-2021, with travellers commonly using credit cards to finance trips.
Turkey curbs credit card use for foreign travel, in blow to sector
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