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Turkiye: Currency-protected deposit balance exceeded ₺1.3 trillion

Treasury and Finance Minister Nureddin Nebati said, “The Currency Protected Deposit Application, which we implemented 9 months ago to protect the savings of our citizens, has exceeded the volume of ₺1.3 trillion.”

Emphasizing that the wheels of the economy are turning with Turkish Lira instruments, Treasury and Finance Minister Nureddin Nebati stated that the Currency Protected Deposit application has exceeded the volume of ₺1.3 trillion.

Minister Nebati said in a statement on Twitter;

The wheels of the economy are turning with Turkish lira instruments. The Currency Protected Deposit application, which we launched about 9 months ago to protect the savings of our citizens, has exceeded the volume of ₺1.3 trillion today.

The increase in assets in Turkish Lira and the extension of the maturities of savings are of great importance in terms of both investments and loans within the financial system. Thus, our banking system can see the way ahead while the savings earn, and our investors can easily meet their liquidity needs in this way.

We prefer the Turkish Lira as the basis of our selective loan policies that will ensure that loans are directed to investment, exports and employment to meet productive companies and areas, that will break the inertia in inflation and reduce dollarization.

We opted for a reformist understanding that prioritized the Turkish Lira. The wheels of the system are fed with Turkish Lira. It’s our money, our savings, and our investment. At the point reached today, the number of real and legal investors in Currency Protected Deposit and Participation Accounts has reached 2 million 138 thousand 489 in total. As we trust our Turkish Lira, we can protect our country from all kinds of shocks, tensions and crises.

Source: Trthaber / Translated by Irem Yildiz

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