TRNC Council of Ministers has issued an Official Newsletter on the 14th of September 2018 stating the new Stoppage Rates. The new stoppage rate for the deposits held in foreign currencies for the individual and corporate clients as well as for the accrued deposit interest of the Bank or cooperative credit companies has been changed to 18% starting from the 1st of October 2018.
Any deposit accounts maturing on the date starting from 1st of October 2018 inclusively are affected by the new rate.
The stoppage rate for the deposits in Turkish Lira will remain as 10% for individual and 12% for corporate clients.
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