The Central Bank of the Republic of Turkey (TCMB) has announced that the opening of new accounts for TL-converted Currency Protected Deposit (KKM) schemes will end as of January 1, 2024.
As of January 1, 2024, new TL-converted KKM accounts will no longer be opened, and existing TL-converted KKM accounts will not be renewed at maturity.
However, new account openings and renewal transactions at maturity for foreign currency-converted KKM accounts will continue.
News Source: AA
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