Erdoğan's call to use the lira in trade secured a response from Japanese technology giant Toshiba. Toshiba Turkey CEO Hiroshi Tani said, "We support Turkey and the lira, we have started using lira in our private sector tenders."

Erdoğan's call to action has found credibility both in individuals and the business world. Toshiba Turkey Medical Systems Inc. Chairman and CEO Hiroshi Tani noted that they support Turkey and the lira, adding, "We have already joined Turkey's import tenders in lira. But after the call, we put prices on the lira basis in case of demand from private sector customers."

KOSGEB will only use Turkish liraThe Small and Medium Enterprises Development Organization (KOSGEB) has announced that the institution will only use Turkish lira in its contractual processes, including applications from small- and medium-sized enterprises (SMEs), in response to President Recep Tayyip Erdoğan's call to convert foreign currencies into Turkish lira.

Chairman Recep Biçer said the documents of any SMEs requesting loans from KOSGEB will not be accepted if they include any currency other than the lira in applications, contracts and temporary invoices, before the loan is provided. Accordingly, applications in any currency other than lira will be deemed invalid.

Emphasizing that SMEs have an important function in reflecting economic prosperity in all walks of life, Biçer noted that the lira, which is the marker of the country's independence and sovereignty, must be protected. Pointing to the importance of the increasing ability of SMEs to fulfill their economic functions and to compete at an international level, Biçer said this is only possible with a strong economy and currency. Underscoring that KOSGEB will apply lira-based support programs from now on, Biçer said: "All SMEs applying for KOSGEB support will have to use lira in all applications, contracts and pro-forma invoices. No other currencies will be accepted."

Referring to the support application phases, Biçer stated that application documents such as foreign currency-based proforma invoices, especially on contracts made on foreign exchange and project-based support programs, will be deemed invalid.