The Term Extended for 1 Year to Open a Currency Protected Deposit and Participation Account

Currency protected Turkish lira (TL) deposit and participation accounts can be opened until 31 December 2023.

Presidential Decision “On Amending the Decision Regarding Supporting Deposits and Participation Accounts Against Exchange Rate Increases” entered into force after being published in the Official Gazette.

In the application, which aims to contribute to financial stability, encourage savings in TL and protect TL investors, the deadline for opening foreign exchange-protected Turkish lira (TL) deposit and participation accounts was set as 31 December 2022.

With the amendment, these accounts can be opened until 31 December 2023.