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IICS New Teachers' Handbook 2011-12 - Istanbul International ...

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<strong>IICS</strong> <strong>New</strong> Teachers’ <strong>Handbook</strong> <strong>2011</strong>-<strong>12</strong> Page 13 of 72<br />

KURBAN BAYRAMI<br />

Kurban Bayramı is the "Feast of Sacrifice", as it features the sacrifice of an animal (typically a cow,<br />

goat, or sheep) in commemoration of the ram sacrificed by Abraham in place of his son. Muslims are<br />

obliged to offer a sacrifice on this day and share a good portion of the meat with the poor.<br />

Although the local municipalities are increasingly more effective at imposing the regulation for animal<br />

sacrificing to be conducted only by licensed butchers in designated areas of town, be aware that<br />

there are still occasions where individuals attempt to do it themselves in the gardens of their<br />

apartments.<br />

2.10 ECONOMIC SITUATION<br />

Turkey has embraced free-market capitalism, and there is a great deal of commercial activity. Income<br />

distribution is uneven, and while some districts of <strong>Istanbul</strong> appear quite prosperous, there are large<br />

areas where poverty is evident. Foreigners and Turkish citizens are permitted to keep foreign<br />

currency bank accounts. Foreign currency is easy to change, and the many exchange offices usually<br />

offer better rates than banks. The post office (PTT) honors the Central Bank exchange rate without<br />

charging commission, and this will most often be your best rate, though not the most convenient<br />

exchange place. Post office working hours are typically weekdays 08:30 to about 16:00-17:00<br />

depending on the branch (excluding <strong>12</strong>:30-13:30 lunch break). Daily Central Bank and free market<br />

exchange rates may easily be found in newspapers or on the internet (www.hurriyetdailynews.com/,<br />

www.tcmb.gov.tr), or you can ask the <strong>IICS</strong> Business Office.<br />

Shops and restaurants often accept some foreign currencies like USD, Euro and major credit cards.<br />

All banks now have Automatic Teller Machines, and it is possible to withdraw money from foreign<br />

bank accounts (common), with some machines also providing local curreny as well as US dollars and<br />

Euros (not common). Please note that Visa and Mastercard are widely accepted but<br />

American Express and other credit cards are not widely accepted. Traveler’s checks of<br />

any brand are very difficult to get cashed as checks are not a common form of monetary<br />

transaction for individuals. Personal checking accounts do not exist in Turkey, only<br />

commercial checking accounts and even those are not common.<br />

***IMPORTANT NOTE ABOUT CHANGE IN TURKISH CURRENCY***<br />

As of January 1, 2009 the Yeni Türk Lirası (YTL, “<strong>New</strong> Turkish Lira”) instituted in 2005 dropped the<br />

word “Yeni” (<strong>New</strong>). The purpose of this name change is due to the 2005 dropping of 6<br />

zeroes/naughts off the currency. Now that the <strong>New</strong> Turkish Lira is no longer new, it has returned to<br />

its previous name. However, you may still hear shopkeepers quote you prices in millions out of habit<br />

or as Yeni Türk Lirası. Do not accept any million lira notes or YTL notes or coins as they are no<br />

longer legal tender.<br />

<strong>IICS</strong> <strong>New</strong> Teachers’ <strong>Handbook</strong> <strong>2011</strong>-<strong>12</strong> Page 13 of 72

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