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  • 30-12-21

    Turkey aims to give incentives to persuade people change from gold to lira deposits

    (MENAFN) On Wednesday, the Turkish Central Bank stated that it is going to give inducements to persuade individuals to change from gold to lira deposits. The step is part of continuing efforts to bolster the Turkish currency.

    According to the banks statement, it has made a decision to “provide incentive to deposit and participation fund holders in the event that they convert their gold deposits and participation funds into Turkish lira time deposit accounts.”

    Based on analysts, the overall quantity in gold accounts at the moment amounts at 270 billion liras (USD22.4 billion), whereas the number for accounts with a three-month-maturity is nearly 15 billion liras (USD1.2 billion).

    MENAFN30122021000045013568ID1103462917

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