Companies and Institutions Will Also Be able to Open Currency Protected TL Accounts

With the two communiqués published by the CBRT, some changes were made in the practice of currency protected TL deposit accounts. These changes directly concern the resident legal entities in our country.

In today’s issue of the Official Gazette, Central Bank of Turkey Republic(CBRT) two new communiqués took place. These communiqués were about currency protected TL deposit accounts that entered our lives a few weeks ago. Authorities, with the published communiqués, ensure that those who keep their money in TL receive support. the scope of the economy package they have expanded.

According to the first communiqué of the CBRT, resident legal entities They will also be able to keep money in their currency-protected TL deposit accounts. So now companies like individual investors, they will be able to invest in TL and put the exchange rate difference under the treasury guarantee. Term of maturity of legal entities 6 months or 12 months as determined.

Banks will monitor for money laundering cases

In the second communiqué of the CBRT, regarding TL deposit accounts converted from gold accounts, important a point is placed. According to this communiqué, banks Comply with national and international standards on the prevention of money laundering and terrorist financing. They will follow the process from beginning to end.

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The Central Bank Announced the Balance Sheet of the Fifth Intervention in Foreign Exchange: The Total Size of the 5 Interventions Has Been Determined

For those who don’t know, a newcomer to our lives. exchange-protected TL deposit accounts Let’s explain what it means: Real or legal persons in our country take their foreign currency or gold to the bank. They will convert to TL. A calculation will be made at the end of the maturity date for these people who deposit their money in the maturity period. According to this account, if the value of the money deposited in foreign currency or gold is higher for that day and the investor has made a loss due to TL, the deficit from the state coffers will be met

Source :
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