www.wsj.com - ISTANBUL—Amid tightening U.S. and European Union sanctions against Iran, almost all of Turkey's banks have stopped handling trade deals with the Islamic Republic, leaving one Turkish lender to rake in all that business: state-owned Halkbank.
Washington passed sanctions in January threatening to penalize financial institutions dealing with Iran's central bank, forcing Turkey's private lenders to halt transactions with Tehran for fear of being frozen out of international markets. U.S. Treasury officials visited Turkey several times last year to advise financial institutions that doing business with proscribed Iranian entities runs the risk of being frozen out of the U.S. financial system. (source)
Showing posts with label wall street journal. Show all posts
Showing posts with label wall street journal. Show all posts
Saturday, 18 February 2012
Saturday, 11 February 2012
BANKING - Is Turkey’s Central Bank Moving? Document Suggests It Could Be
blogs.wsj.com - ISTANBUL — It’s something of an open secret in Turkey that the government has been seriously considering moving the central bank from Ankara to Istanbul, but the small print of a government document this week suggests the move could come sooner than previously thought.
The transfer of operations would be part of a broader project to boost the profile of Istanbul, already the country’s commercial capital, as an international financial center. (source)
The transfer of operations would be part of a broader project to boost the profile of Istanbul, already the country’s commercial capital, as an international financial center. (source)
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