New decisions that will increase the attractiveness of the Turkish lira were included in the Official Gazette. Accordingly, citizens will be able to convert their savings into TL. Additionally, banks will be able to give loans to SMEs more easily.
In today’s issue of the Official Gazette, the Central Bank of the Republic of Turkey (CBRT) important regulations were included. Communiqué Amending the Communiqué on Supporting the Conversion to Turkish Lira Deposit and Participation Accounts (Number: 2021/14) (Number: 2023/25) with Communiqué Amending the Communiqué on Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts (Number: 2021/16) (Number: 2023/26)Turkish lira to become attractive aims to provide.
Announced a few years ago, “Exchange Rate Protected Deposits” practice left a huge burden on the treasury. In order to get rid of this situation, the government started to take steps aimed at making the Turkish lira attractive. This is exactly what the regulations published today are. focuses. We will see how effective these regulations will be in the coming periods.
Savings in foreign currency and gold accounts can be converted to TL
Within the scope of the decision taken, foreign currency deposits, participation fund or gold account balances opened for foreign currency or gold can now be transferred to the account holder of that moment, if the account owner requests. via conversion rate It can be converted into Turkish lira.
The Central Bank also provides some regulations made. In this context; The TL share increase target was revised to 2.5 percent. In addition, banks will make commission payments to encourage the acceleration of the return to TL. Banks are no longer based on 50 thousand TL, 200 thousand TL will have to establish securities for 30 percent of the loan. This decision, which is valid for export, investment and SME loans, will also benefit small businesses.
Regulations published in the Official Gazette from here accessible.