Turkey’s government is pushing a campaign to encourage households to deposit their vast, unrecorded gold reserves—estimated in the billions—into formal banking channels as part of broader efforts to stabilize the economy. With much of the country’s gold stashed outside the financial system, officials argue that bringing these assets into regulated institutions could boost liquidity and economic confidence. The move reflects broader concerns about capital flight and the need for greater transparency in the financial sector. Critics, however, question whether citizens will trust the system after years of economic volatility.
Billions of dollars worth of gold is held in Turkish households outside the banking system. The government aims to convince citizens to put it into the mainstream financial system to help the economy.
