Spousal approval condition disrupts lending to firms

Speaking to reporters in Ankara, Palandöken noted that they have already contacted relevant ministries to find a solution to the problem sooner rather than later. “Only then will markets enjoy a sigh of relief,” he said.

Many businesspeople have already taken the issue to the media and expressed their discomfort with the requirement in the last several days since the law went into effect on July 1. Experts warn that the condition set by the Law of Obligations could lead to major problems in marriages. A common concern is that men would find ways around the regulation and aggrieve women, who already do not have many choices since most of them are unemployed. Another source of worry is that some women could blackmail their husbands for financial gain. Speaking to the media regarding the issue on Monday, Customs and Trade Minister Hayati Yazıcı blamed banks for enforcing the regulation too strictly.