Türkiye has successfully concluded its withdrawal from the foreign exchange-protected deposit scheme, known as KKM, with the total volume of accounts now at zero, as indicated by the latest banking data. This scheme was initially launched in late 2021 to safeguard Turkish lira deposit holders against the adverse impacts of currency depreciation. However, the Turkish authorities commenced a gradual phase-out of this scheme in 2023 in a strategic move toward adopting more traditional economic policies.
The cessation of renewals under the KKM scheme took place in 2025, leading to a consistent decrease in the volume of these accounts. According to figures from the Banking Regulation and Supervision Agency, the balance had diminished to negligible levels before finally reaching zero. This development underscores the government’s shift in economic strategy and reflects a broader commitment to reinforcing economic stability.
Treasury and Finance Minister Mehmet Şimşek emphasized that completing the exit from the KKM scheme represents a significant milestone in Türkiye’s economic agenda. He reiterated the government’s dedication to policies that will enhance macro-financial stability and bolster confidence in the Turkish lira.
As Türkiye moves forward, the focus remains on sustaining the positive momentum of its economic initiatives. The government’s strategy aims to solidify the country’s financial infrastructure and restore trust in its national currency. This latest achievement in phasing out the KKM scheme is a testament to Türkiye’s commitment to these long-term economic goals.