Within the scope of the Currency Protected Deposit Account, resident real and legal persons will be able to convert their foreign currency deposit accounts and foreign exchange denominated participation fund accounts held in banks between 31 December 2021 and 30 June 2023 into Turkish lira.

The conversion to Turkish lira will be made at the request of the account holders and at the conversion rate.

In case the maturity rate is higher than the conversion rate, the calculated amount will be transferred to the relevant bank to be paid to the deposit or participation account holder by the Central Bank.

The relevant communiqué of the Central Bank was published in the Official Gazette.

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