In line with the exit strategy from Currency Protected Deposit (CCD) accounts, the Central Bank of the Republic of Turkey (CBRT) has suspended the opening of new accounts and the renewal of existing accounts by legal entities as of February 15, 2025.
Transition to TL Will Be Encouraged
This decision taken by the Central Bank of the Republic of Turkey aims to accelerate the conversion of KKM accounts to TL. In this context, legal entity KKM accounts are now excluded from the TL conversion and renewal targets.
Effects of the New Policy
With this regulation, companies are expected to turn to different financial instruments instead of KKM accounts. This move by the Central Bank is considered to be a step in line with the strategy of keeping economic stability and foreign exchange market fluctuations under control.
