Summary
According to estimates, Turks hold some 3,500 tons of gold. Banks have sought to capitalize on the tradition by offering accounts denominated in gold.
Eight years on, Kuveyt Turk manages 200,000 gold accounts with different products allowing sales by check, bank transfer or mobile phone.
The success of the ATMs started a trend, with many other Turkish banks latching on. The volume of gold in their reserves has gone from 2 tons in 2007 to 250 tons.
Demand for gold jewelry in Turkey fell 7 percent to 68.2 tons in 2014, "slightly more resilient" than the overall global trend of a 10 percent decline.
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