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TRNC Cannot Impose Sole Use of Lira in Property Deals

TRNC Cannot Impose Sole Use of Lira in Property Deals

September 15
10:24 2018

North Cyprus News - Serdar DenktasThe TRNC cannot impose the sole use of the Turkish lira in property purchases, sales and rents, Minister of Economy Serdar Denktas has said.

Turkish President Recep Tayyip Erdogan signed a decree early on September 13 that requires using the lira for buying, selling and renting of real estate and leasing of vehicles.

The decree was published in Turkey’s Official Gazette.

Commenting on this development Denktas stated that the country cannot follow this decision because the TRNC has laws according to which, individuals who want to make a business agreement can use the currency they prefer.

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