The Central Bank of the Republic of Turkiye (CBRT) has announced that additional benefits or returns to be given in various accounts that will be opened or renewed as of June 1 cannot be paid before the end of maturity.
In the letter sent from the CBRT to the banks, a statement was made on the implementation of the communiqués on Supporting the Conversion of Turkish Lira Deposit and Participation Accounts, Supporting the Conversion from Gold Accounts to Turkish Lira Deposit and Participation Accounts, Foreign Residents Deposit and Participation System (Yuvam) Accounts and Bringing Physical Assets in Gold into the Financial System.
In the letter, it was requested that any additional payment to be made under the name of additional benefit or return on exchange rate difference to the accounts to be opened or renewed as of June 1 should be included in the interest calculation to be made by the banks at the end of the maturity date and notified to the CBRT.
In the letter stating that the exchange rate difference payments to be made by the CBRT should be made over the total interest and additional benefits or returns, the following was said; “We kindly request your information and the necessary action regarding the payment of additional benefits and income in Turkish lira in accounts to be opened or renewed as of this date, and the payment of such additional benefits or returns at the end of maturity (no cash payment).”
Source: Trthaber / Prepared by Irem Yildiz
