Turkiye Central Bank Ends Gold-to-Lira Deposit Conversion Scheme
7 Articles
7 Articles
The Central Bank has repealed the circular issued in 2022 regarding the integration of physical gold held "under the mattress" into the financial system.
The additional premiums, interest, and yield supports provided by the Central Bank to citizens who brought their physical gold to the bank and converted it into Turkish lira have been abolished by a decision published in the Official Gazette.
Turkiye Central Bank Ends Gold-to-Lira Deposit Conversion Scheme
The Central Bank has repealed a regulation that allowed physical gold held outside the banking system to be converted into lira-denominated deposit and participation accounts. The decision, published in the Official Gazette on Aug. 22, entered into force on the same day. The regulation had been in place since March 14, 2022. New accounts and renewals under the scheme had already been halted on Aug. 23, 2025. Accounts opened before that date rema…
The Central Bank of the Republic of Turkey (TCMB) has repealed the circular regarding the integration of physical gold assets into the financial system, which had been in effect since 2022.
The Central Bank's support for those who converted their gold reserves into Turkish Lira has ended.
The Central Bank has abolished the regulation, launched in 2022, that aimed to bring citizens' physical gold holdings into the financial system. The decision was published in the Official Gazette and entered into force.
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