Erdoğan says Treasury to take over Turkey’s largest lender, İşbank

News About Turkey - NAT
1 Min Read

Turkish President Recep Tayyip Erdoğan on Tuesday announced that the nation’s largest listed bank, Türkiye İş Bankası (İşbank), would be transferred to the Treasury.

The bank, which was established by the nation’s founder, Mustafa Kemal Atatürk, has four people from the main opposition Republican People’s Party (CHP) on its board, as instructed in Ataturk’s will. Ataturk had a 28 percent share in the bank and was the first chairman of the CHP.

“İş Bank is on the table, do not forget it. It will become the property of the Treasury,” Erdoğan said at his party’s weekly meeting. The president went on to say that the bank is the property of the nation.

“I believe this parliament will take this historic decision, with God’s permission, and the 28 percent İşbank stake will be transferred to the nation’s treasury,” Erdoğan told lawmakers.

Erdoğan had renewed his interest in the bank earlier in 2018.

Source: Turkish Minute

Share This Article
Founded by a small group of Turkish/Kurdish scholars who have been subjected to persecution at the hands of the Erdogan dictatorship, News About Turkey (NAT) has emerged as a platform that is both exceptional and invaluable. Our objective is to provide you with a comprehensive and sophisticated understanding of the events and developments in Turkey (Türkiye), a country with profound historical and geopolitical importance, a vibrant culture, and a strategic location. Our founders, who have been purged by the Erdogan regime after the so-called coup attempt, are aware of the significance of journalism that is both free and independent. Because of this understanding, we are committed to providing reporting and analysis that is both objective and comprehensive. To give you the most thorough coverage of Turkey, we go further than just scratching the surface. Keep in touch with us so that you can have a better understanding of Turkey's developing story as well as vital and comprehensive news items. Whether you are a resident of Turkey, a member of the Turkish/Kurdish diaspora, or simply someone who has a strong interest in this vital country, we are the most reliable source for news that not only informs but also inspires and engages you.
Leave a comment