CBRT to hand over profit and reserves to government

Law change permits government to dip into central bank’s reserves


The Central Bank of the Republic of Turkey is set to distribute its profits early for a second year and hand over a chunk of its reserves to the government.

A spokesperson confirmed to Central Banking that the CBRT would hold an extraordinary general meeting on January 20. The meeting will “distribute advance payments” from the central bank’s 2019 profit, and distribute “accumulated reserve funds along with this profit, excluding the portion earmarked from last year’s profit”, the spokesperson

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