Vakıf Katılım has put the “Gold Saving Ecosystem Project” into use

Vakıf Katılım has joined the “Gold Saving Ecosystem Project” which has been launched by the Ministry of Treasury and Finance as of 1st of March 2022 and which aims to bring the gold under the pillow of the citizens into the economy.

Vakıf Katılım has put into use the “Gold Saving Ecosystem Project” which has been initiated by the Ministry of Treasury and Finance. Thanks to the project initiated with the aim to bring the golds under the pillow into the economy and to provide income for the citizens, the gold amounts deposited to the institution will be under the guarantee of Saving Deposit Insurance Fund (“TMSF”) within the scope of the relevant legislation.

With the Mint Gold System, Vakıf Katılım’s customers will be able to deposit the jewelry golds produced by the Mint into “Quarter Accounts” or “Winning Quarter Accounts” regardless of the quantity. Then, they will be able to withdraw the new-dated same type of gold (Quarter, Half, Full Gold Coins, Two-And-A-Half Gold Coin or Five Gold Coin) from Vakıf Katılım branches.

In Jeweler Gold Valuation System (KAD-SİS) started by Istanbul Gold Refinery, citizens will be able to easily and confidently transfer their gold to their Vakıf Katılım accounts through authorized jewelers all over Turkey every weekday.

“There is 5 thousand tons of gold with a value of approximately 280 billion dollars under the pillow”

Making a statement on this matter, İkram Göktaş, General Manager of Vakıf Katılım, said that “We are glad to have joined “Gold Saving Ecosystem Project” launched by the economy administration in order to bring the physical golds into the financial system. It is estimated that there is 5 thousand tons of gold with a value of approximately 280 billion dollars under the pillow in our country. This project will ensure the bringing of the golds under the pillow into the economy and the provision of income for the citizens”.

“Participation banking has reached 67 billion Turkish Lira balance in exchange rate protected participation accounts”

Having stated that the Exchange Rate Protected Participation Accounts, which were put into use as of the end of 2021 in order to prevent fluctuations in foreign exchange rates, to balance the current account deficit and to ensure permanent price stability in inflation, continue to attract intensive attention of our people, Mr. Göktaş continued his words as follows: “Participation Banks have reached 67 billion TRY balance size, 25 billion TRY of which is supported by the Ministry of Treasury and Finance and 42 billion TRY by the Central Bank, in 60 days. With Saving Ecosystem Project, I believe wholeheartedly that we will gain a significant momentum in a short span of time. We invite all our customers to join this project.”