Maturities and types of deposits and participation funds have changed
The CBRT has made changes to the maturities of deposits and participation funds.
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The Central Bank of the Republic of Turkey (CBRT) has made changes to the maturities and types of deposits and participation funds.
The CBRT's Communiqué on Amending the Communiqué on the Maturities and Types of Deposits and Participation Funds was published in today's issue of the Official Gazette.
Accordingly, participation accounts have been changed to accounts that can be opened with maturities of up to 1 month (including 1 month), up to 3 months (including 3 months), up to 6 months (including 6 months), up to 1 year, and 1 year or longer (with 1-month, 3-month, 6-month, and annual profit share payments).