Deposit

Declines in inflation over the next months will further boost the rise in the share of Turkish Lira deposits in total, according to a post on the Turkish Central Bank's blog.

The share of lira deposits in total deposits grew from 48.4 percent to 51.8 percent in July-August, the blog post by researchers and economists working at the bank stated.

Türkiye is set to launch a comprehensive deposit return system on Jan. 1, 2025, marking a significant milestone in its zero waste initiative.

The system will feature 5,000 deposit return machines across the country, collecting a 25 kuruş deposit for each water, soda, cola and beer bottle in kiosks, grocery stores and markets.

Turkish banks have hiked their deposit rates and loan rates after the Central Bank, in a surprise move, increased the policy rate by 500 basis points to 50 percent last week. 

The average return on three-month lira deposits rose to 55.66 percent. The three-month deposit rate was around 28 percent almost a year ago.

Breaking through the inaccessible of the bank deposit boxes

Preparations for the Deposit Management System (DYS), a key component of the Zero Waste Project championed by first lady Emine Erdoğan, have neared completion.

The system, aimed at reducing waste and promoting resource efficiency, is now in the pilot phase nationwide.

BELGRADE - Serbia's Finance Minister Dusan Vujovic has said that all banks and their clients with savings accounts will have to put some of their money into the Deposit Insurance Fund in the future, adding that the fund will mostly have independent members of the management board.