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Turkish authorities take control of bank tied to Erdogan foe ISTANBUL: Turkish authorities announced Friday they had taken control of the country's 10th largest lender, Bank Aysa, which is linked to an ally-turned-foe of President Recep Tayyip Erdogan, US-based cleric Fethullah Gulen. In a statement, the Banking Regulation and Supervision Agency said it had handed over the reins of the bank to the state-run Savings Deposit Insurance Fund (TMSF) eight days before legislative elections on June 7.Justifying its move, the watchdog said "problems" in the bank's activities through its "financial structure, partners and the composition of its board of directors constituted a danger... to the confidence and stability of the financial system".The Turkish government initiated the move against the Islamic lender, founded by Gulen's followers in 1996, in February.At the time, the TMSF took 63 percent of Bank Asya shortly after the BDDK ruled in favour of its seizure, and sacked the entire existing management team, citing a lack of ...

'Ebola will return', veteran scientist warns PARIS: Congolese expert Jean-Jacques Muyembe may be little known to the public, but he has been one of the world's top Ebola investigators since the first epidemic erupted in central Africa in 1976.Now, amid a decline in a west African outbreak that has taken more than 11,000 lives, Muyembe warns that Ebola will strike again in the future and that the deadly virus poses "a threat to the whole world".Muyembe studied medicine in Kinshasa and ...
Greece looms large over final day of G7 finance meeting DRESDEN: Greece's fate in the euro area continued to cast a shadow over the second and final day of a Group of Seven finance ministers meeting in Dresden Friday with still no sign of a deal in sight.The governor of the Bank of Japan Haruhiko Kuroda -- who is attending the meeting -- warned of the consequences of a possible "Grexit" or Greek exit from the euro. "If for the first time a country leaves ...
WHO warns that Ebola crisis isn't over PARIS: The World Health Organization (WHO) on Thursday warned against complacency about the deadly Ebola virus, saying that the crisis isn't over."We have to keep our guard up," Sylvie Briand, head of epidemiology at the UN's health agency, told a stock-taking meeting on Ebola in Paris. Briand said the situation in Guinea, one of the three West African states where Ebola has killed more than 11,000 people, left her "deeply concerned."Briand warned against hopes that ...
Putin says US trying to block Blatter reelection as FIFA head MOSCOW: Russian President Vladimir Putin slammed the arrests of top FIFA delegates in a US probe as an attempt by Washington to oust Sepp Blatter as head of the organisation."This is clearly an attempt to block the reelection of Blatter as president of FIFA and is an extremely serious breach of the principles of how international organisations work," Putin said in televised comments broadcast Thursday, accusing the United States of trying to "spread its jurisdiction ...
France says Britain EU referendum 'very risky' PARIS: French Foreign Minister Laurent Fabius said a British referendum on whether to leave the EU was "very risky", ahead of a visit by Prime Minister David Cameron to Paris on Thursday.Cameron is carrying out a whistlestop tour of European capitals to push for reforms he says are necessary before the EU referendum, including on immigration."We will listen to him and see what he proposes," said Fabius."He launched this referendum project, it is something very ...
UK's Cameron meets EU leaders on referendum reform push LONDON: Prime Minister David Cameron starts a whirlwind two-day tour of European capitals including Paris and Berlin Thursday in a push to secure EU reforms before a referendum on whether Britain should leave.Cameron will meet the Netherlands' Prime Minister Mark Rutte in the Hague Thursday before having dinner with French President Francois Hollande in Paris.On Friday, Cameron will hold talks with Polish Prime Minister Eva Kopacz in Warsaw before flying to Berlin for a working ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln