Arab Today, arab today peertopeer turkish lira money transfers stalled
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Peer-to-peer Turkish lira money transfers stalled

Arab Today, arab today

Arab Today, arab today Peer-to-peer Turkish lira money transfers stalled

Turkish lira money
Ankara - Anadolu

A change in the Turkish law has temporarily halted the transfer of Turkish lira abroad through a peer-to-peer money transfer platform, the company said on Wednesday.

TransferWise has stopped sending Turkish lira from Turkey to bank accounts abroad due to new licensing requirements.

"In a nutshell, Turkey has introduced legislation that means businesses now require a license to offer money remittance services out of Turkey,” company spokeswoman Antonia Rofagha said.

“This brings it in line with other countries - the new law is a good measure to protect consumers' rights. We're intending to obtain this license but until we do so, we won't be operating 'from Turkey’."

Rofagha said the law affected all "money service businesses”.

She added: "Until we're absolutely sure that TransferWise complies with this legislation, we've made the decision to close down this route."

Customers can still transfer foreign currency out of Turkey using the service.

Transferwise has handled over $150 million in international transfers since it began in 2011. The company operates on the basis of charging lower fees and better exchange rates than banks.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today peertopeer turkish lira money transfers stalled Arab Today, arab today peertopeer turkish lira money transfers stalled

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today peertopeer turkish lira money transfers stalled Arab Today, arab today peertopeer turkish lira money transfers stalled

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday