Deadline for Application and Transfer of Time-barred Deposits, Participation Funds, Custodies and Receivables Postponed

The decision of Banking Regulation and Supervision Board dated 27.04.2023 and numbered 10585 (Decision) is published in the Official Gazette dated 28.04.2023 and numbered 32174. The Decision extends the application deadline and the date of transfer to the Savings Deposit Insurance Fund (the Fund) for time-barred deposits, participation funds, custodies and receivables held by banks. Details regarding the Decision are as follows:

• The procedures and principles regarding the transfer of time-barred deposits, participation funds, custodies and receivables to the Fund are regulated under the Regulation on the Procedures and Principles regarding the Acceptance and Withdrawal of Deposits and Participation Funds and Time-barred Deposits, Participation Funds, Custodies and Receivables (Regulation).
• Pursuant to Article 8/3 of the Regulation, any deposit, participation fund, custody and receivable declared time-barred, and which are not requested by the right holders or their successors until the 15th day of June, shall be transferred to the Fund’s accounts until the end of June, together with interests and dividends.
• As per the Decision, due to the earthquake disaster in our country, the deadline for the application of the right holders to demand the time-barred deposits, participation funds, deposits and receivables for the year 2022 is postponed to 15.09.2023; and the date for the transfer of the amounts for the year 2022 not sought by the right holders to the accounts belonging to the Fund together with their interest and dividends is postponed to 30.09.2023.