The Independent Industrialists and Businessmen’s Association (MÜSİAD) has proposed a 50% reduction in bank commissions and fees, particularly those applied to credit card transactions.
During an emergency action meeting focused on the apparel and textile sector, organized by MÜSİAD’s Textile, Leather and Ready-to-Wear Sector Board, the association also suggested that interest and commissions on rediscount loans be collected at maturity, with related fees and charges reduced by half.
The meeting, hosted by MÜSİAD President Burhan Özdemir, Vice President Ahmet Doğan Alperen, Sector Boards Commission Chair Cemal Özen, and Textile, Leather and Ready-to-Wear Sector Board Chair Hayrettin Gümüşkaya, brought together industry representatives to discuss sector challenges and potential solutions.
Key proposals included:
- Separating direct investment and production loans from general lending policy and reducing their interest rates to half the policy rate.
- Expanding Turkish Eximbank credit support to 20% of a company’s annual exports and removing additional cost items such as bank guarantees up to 10% of total export value.
- Extending loan maturities to help producers and exporters weather the economic slowdown.
On the issue of companies in concordat proceedings, MÜSİAD recommended allowing creditor firms to take out loans equivalent to their receivables, with 50% of the financing cost—regardless of maturity—passed on to the debtor. The association said such measures could help prevent new concordat filings.
Participants also shared proposals on foreign trade and exchange rate policy, labor costs, energy costs in production, and logistics expenses.
Source: Bloomberght/ Prepared by: İlayda Gök