Official Gazette published: Deadline extended for foreign currency-converted Protected Deposit Accounts
The Communiqué on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts has been published in the Official Gazette.
The Central Bank of the Republic of Türkiye (TCMB) has published its Communiqué on Amending the Communiqué on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts, as well as the Communiqué on Amending the Communiqué on Supporting the Conversion of Gold Accounts to Turkish Lira Deposit and Participation Accounts, in the Official Gazette.
Accordingly, within the scope of the Protected Deposit Account, domestic resident individuals will be able to convert their gold, dollar, euro, and British pound-denominated foreign currency deposit accounts and participation fund accounts existing in banks as of January 31, 2024, into Turkish Lira.
No updates were made to the previously determined dates regarding the balances to be taken as a basis for the conversion of gold and foreign currency deposit accounts and participation funds of domestic resident legal entities into time-deposit Turkish Lira accounts or participation accounts.
The conversion transactions to Turkish Lira will be carried out upon the request of the account holders and at the conversion rate.
News Source: 12punto
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