A request by state-owned Vakıfbank to open a branch in Iraq’s northern city of Arbil was approved by the Banking Regulation and Supervision Agency (BDDK), the bank said on Friday.
In a statement issued to the Public Disclosure Platform (KAP) of the İstanbul Stock Exchange (İMKB) yesterday, the bank said the BDDK had found its request appropriate. General Manager Süleyman Kalkan last month announced Vakıfbank’s plans to open a branch in Arbil, which has been a center of attraction for Turkish banks eager to benefit from increasing trade between Turkey and northern Iraq.
Ziraat Bankası, İş Bankası, Kuveyt Türk and Albaraka Türk have also unveiled plans to open branches in the city.
Source : http://todayszaman.com/tz-web/news-222648-bddk-approves-vakifbank-request-for-arbil-branch.html - Sept 25, 2010
