Change in the date condition of conversion accounts from the TCMB

The Central Bank of the Republic of Turkey (TCMB) has made technical changes to the date conditions for real person conversion accounts. The communiqués containing the technical changes made by the Central Bank of the Republic of Turkey (TCMB) to the Communiqué on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts and the Communiqué on Supporting the Conversion of Gold Accounts to Turkish Lira Deposit and Participation Accounts were published in the Official Gazette. Accordingly, domestically resident real persons will be able to convert their gold, dollar, euro and British pound deposit and participation fund accounts in banks into TL as of August 31, 2023. The date previously determined for the balances to be taken as basis for the conversion from gold and foreign exchange deposit and participation fund accounts of domestically resident real persons to time TL deposits or participation accounts was June 30, 2023. Conversion transactions to TL will be carried out upon the request of the account holders and at the conversion rate/price.