The Central Bank of the Republic of Turkey has decided to reward deposit and participation fund holders if their gold deposits and participation funds are converted into Turkish lira time deposit accounts at the request of the account holder.
To promote financial stability by increasing the share of Turkish lira in total deposits/participation funds in the banking system, it was announced in Press Release No. 62 dated 21 December 2021 that deposit and participation fund holders would be compensated if they converted their FX deposit accounts and participation funds into TL time deposit accounts.
The CBRT has now decided to reward deposit and participation fund holders who convert their gold deposit accounts and participation funds into TL time deposit accounts.
