Categories: Economy

New decision on the conversion of the Central Bank to TL

The Central Bank of the Republic of Turkey (CBRT) amended the Statement on Support for Conversion of Deposit and Participation Accounts in Turkish Lira.

According to the amendment statement published by the CBRT in the Official Gazette, the first paragraph of the fourth article of the Notice on support for the conversion of deposit and participation accounts in Turkish lira; “Foreign currency deposit account balances in US dollars, euros and sterling and foreign currency participation fund accounts existing in banks for resident individuals and for national legal entities in banks on any date between December 31, 2021 and on June 30, 2023, if requested, it will be converted into Turkish lira at the conversion rate”.

In the previous release, the date range was from December 31, 2021 to March 31, 2023.

The Notice entered into force as of today. (AA)

Source: Sozcu

Andrew

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