A new policy to relieve Turkey’s currency crisis puts a spotlight on a historically robust area of the economy: the banks.
Faith in the local banking system has remained resolute despite repeated currency depreciations, sackings of central bank chiefs and boom-bust cycles. The country’s lenders are at the center of the government’s rescue plan for the lira unveiled this week. The plan pays Turks to keep their bank deposits in lira and not pull money out of the banking system no matter what happens in currency markets.
