Term Extended for Foreign-Exchange-Protected Deposit Accounts...

The term for foreign-exchange-protected deposit accounts has been extended. Under a Presidential decree published in the Official Gazette, FX-Protected Turkish Lira deposit and participation accounts may be opened until 31 December 2023. The amendment to the decision on supporting deposit and participation accounts against exchange rate increases was published in the Official Gazette dated 17 December 2022.

According to the decision, the term for FX-protected Turkish Lira deposit and participation accounts has been extended by one year.

As a result, accounts opened until 31 December 2023 will also be able to benefit from the FX-protected deposit support.