Türkiye Central Bank Ends Physical Gold Conversion Scheme

The Central Bank of Türkiye has ended its physical gold conversion scheme, which allowed savers to exchange their gold for lira-denominated deposit and participation accounts.

According to a regulation published in the Official Gazette on August 22, new accounts and renewals under the scheme were halted on August 23, 2025. Existing accounts remained valid until maturity.

Under the repealed rules, savers could take physical gold to authorized jewelers or bank branches for transfer to gold accounts. The balance was converted into liras at a price set by the Central Bank and placed in deposit or participation accounts with maturities of three, six, or 12 months.