Reuters exclusively reported that Turkey’s big state banks have set employee performance targets as they urge clients to convert foreign currencies into lira under a deposit-protection plan introduced last month to stem a currency crisis. Under the scheme, the Treasury and central bank guarantee deposits with a three-to-12 month duration against foreign exchange-related losses in an effort to halt a flight to the dollar amid soaring inflation.
Business & Finance
Reuters exclusively reveals Turkish bank employees compelled to boost lira-defense scheme
18 January 2022, 9:05 am 1 minute
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Europe
Countries: Turkey
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story