The Central Bank has rescinded two circulars relating to expired Exchange Shielded Deposits (KKM) accounts.
The announcement of the Central Bank of the Republic of Türkiye (CBRT) on the deletion of expired KKM accounts was published in the Official Gazette.
According to the two communiqués, “Communication on support for conversion from Turkish Lira participation and deposit accounts (No.: 2021/14)” and “Communication on support for conversion from gold accounts to Turkish Lira participation and deposit accounts (No.: 2021/16)” were annulled.
CBRT has decided to terminate the process of opening and renewing KKM accounts (except YUVAM accounts) as of August 23, 2025 and announced that the related notices will be repealed upon the expiration of the settlement period of accounts opened before this date.
On the other hand, the conversion from gold accounts to deposit accounts and Turkish lira participation as well as the introduction of physical gold assets into the financial system (FATSI) continued as the maturity continued.
