23.08.2025 06:02
The Central Bank of the Republic of Turkey announced that the opening and renewal of Currency Protected Deposit accounts have been terminated.
The Central Bank of the Republic of Turkey shared its latest decision regarding the Currency Protected Deposit (KKM) with the public. In a statement from the Central Bank, it was announced that the implementation has been terminated.
CURRENCY PROTECTED DEPOSIT HAS ENDED
In the statement from the Central Bank, it was stated, "The Central Bank of the Republic of Turkey has decided to terminate the opening and renewal of KKM accounts (excluding YUVAM accounts) as of August 23, 2025. The relevant regulations will be repealed when the maturities of the accounts opened before this date expire.
With this decision, the total target for the transition and renewal of KKM to TL has been removed. In this context, reserve requirement interest and commission regulations have been reviewed.
It is presented to the public's information," it was said.
PUBLISHED IN THE OFFICIAL GAZETTE
The relevant decision was also published in the Official Gazette and came into effect.