The Central Bank of the Republic of Turkey recently revealed it made the decision to provide incentives to gold deposit and participation fund holders that request to convert these into lira time deposits, a statement from the central bank has said. Incentives Intended to Boost Financial Stability The Central Bank of the Republic of Turkey (CBRT) has announced the launch of an incentive scheme that encourages Turkish residents to convert their gold deposits and participation funds into lira time deposit accounts. In a brief statement released in late December 2021, the central bank explained that this incentive scheme is intended “to support financial stability.” As has been widely reported, Turkey is in the midst of a deep economic crisis that has led to the sharp depreciation of the lira and the rising of prices. In turn, this combination of a falling currency and a rising rate of inflation has seen more Turkish residents seek sanctuary in alternative stores of value like gold
Official Bitcoin Latest News Blog 🗞️