A planned link between the payment systems of Turkey and the Turkish Republic of Northern Cyprus has moved beyond preliminary talks, according to TRNC Central Bank Governor Rifat Günay. Speaking to Anadolu Agency after the CBRT-hosted Istanbul Economic Forum, he said the central banks had reached an agreement on the Electronic Payment System (EÖS), obtained approvals and expected the TRNC side to connect no later than November. That is a timetable from the governor—not confirmation that a new consumer service is already live.
What has been confirmed
Günay described an agreed and approved central-bank connection and gave November 2026 as the expected latest month for joining the system. The CBRT separately confirms that it hosted the Istanbul Economic Forum on 8–9 October, where central-bank leaders and other senior officials discussed financial stability and the global economy. The TRNC Central Bank already operates its own EÖS and publishes transaction statistics, so the announcement concerns cross-system integration rather than the creation of a payment network from zero.
What has not been announced
Neither central bank has yet published an operating circular for the Turkey–TRNC link. There is no confirmed launch day, customer tariff, settlement window, transfer ceiling, bank list, currency scope or retail application process in the public material reviewed by Turkey Compass. The statement should therefore not be presented as a promise of instant, free or same-day consumer transfers, and it should not be confused with Turkey's FAST service.
Why the connection could matter
A direct institutional link could reduce operational friction for banks moving funds between the two Turkish-lira markets and may eventually improve payment predictability for households, students, businesses and investors. The practical effect will depend on the implementation rules and on how participating banks pass the infrastructure change to customers. Existing correspondent-bank routes, compliance checks, exchange costs and bank cut-off times remain relevant until providers publish new terms.
What customers should do now
Do not change a property payment, tuition transfer or business settlement on the strength of the timetable alone. Ask the sending and receiving banks which route they currently use, request the full fee and expected value date in writing, verify the beneficiary details independently and keep the payment purpose documents. Turkey Compass will update this explainer when either central bank publishes the technical start date and customer-facing conditions.
CBRT — Press release on the Istanbul Economic Forum, 9 October 2026 →
TRNC Central Bank — 2026 EÖS transactions by payment channel →
TRNC Central Bank — EÖS press release archive, 22 October 2025 →