CBRT signs off on a new KKM decision and terminates transactions: For legal entities

The Central Bank of the Republic of Turkey (CBRT) has announced that, as part of its exit strategy from Foreign Exchange Protected Deposit (KKM) accounts, account opening and renewal transactions for legal entities have been terminated.

In a statement issued by the CBRT, it was stated, "The CBRT has decided to terminate the account opening and renewal transactions for legal entities across all KKM accounts (including YUVAM accounts) as of February 15, 2025."

The statement further noted that legal entity KKM accounts have been removed from the targets related to the transition of KKM to TL and its renewal.