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  • 02-01-22

    Turkey’s president urges locals to change their gold assets into lira currency

    (MENAFN) On Friday, Turkish President Recep Tayyip Erdogan urged locals to exchange their gold assets to Turkish currency via fresh fiscal measures presented to bolster the Turkish lira.

    According to Erdogan statement in his speech to the General Assembly of Anatolian Lions Businessmen Association (ASKON) in Istanbul, "we expect our citizens and business world to support this historic breakthrough of our country, by bringing their gold savings in to the financial system."

    On what he names the "under-the mattress savings" of individuals who take their holdings from Turkish banks and save them at their residences, he stated that as of the start of next year, both firms and individuals “will accelerate the return to the lira.”

    The president stated, "the more we bring back to our economy the 5,000 tons of gold kept under the mattress, the stronger our country and nation will be."

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