Syrians deposit 1.2 billion liras in Turkey’s banks in 2016
ISTANBUL - Anadolu Agency
AFP photoSyrians have deposited around 1.2 billion Turkish Liras ($409 million) in Turkish banks so far this year, the country’s official banking regulation authority said on June 14.
According to the Banking Regulation and Supervision Agency (BDDK), Syrians deposited 1,199,632,000 liras in Turkish banks in the first quarter of the year.
As the number of Syrians living in Turkey increases, the amount of the money Syrians deposit in Turkish banks is also increasing, the BDDK stated.
In 2012, assets of Syrians in Turkish banks totaled 311.2 million liras. In 2013 it had risen to 694.3 million liras, in 2014 to 733.8 million liras, and in 2015 to 1.2 billion liras.
Islam Memiş a financial analyst at Turkey’s state-run Anadolu Agency, said rich Syrians had converted considerable amounts of their cash to U.S. dollars due to the loss in value of the Syrian lira.
“Rich Syrians have converted their cash money to dollars [and] invested in either real estate or the food sector. You can now see restaurants and kiosks with Arabic name plates everywhere in Turkey,” Memiş added.