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Turkey’s banks reluctant to finance Erdoğan’s ‘crazy’ canal project: report

Some of Turkey’s biggest banks are reluctant to finance President Recep Tayyip Erdoğan’s planned İstanbul canal due to environmental concerns and the investment risks...

Albayrak unveils reform plan: boost banks’ capital, adjust taxes

Turkish Finance Minister Berat Albayrak said on Wednesday the government would boost banks’ capital and valuable exports and adjust taxes as part of a reform plan...

Turkish government handing out cheap bank loans in anticipation of local elections: study

As Turkey’s municipal elections draw closer, the Turkish government has put in place several campaigns extending favorable bank loans for housing purchases in what...

Fitch downgrades 20 Turkish banks amid Turkey’s currency crisis

Ratings agency Fitch downgraded 20 Turkish banks on Monday, warning of the mounting risks confronting the sector in the wake of a recent currency...

Turkey ready to support its banks if needed, Albayrak says

Turkey is ready to provide required support to its banks should the need arise due to recent developments, Finance Minister Berat Albayrak was quoted...

IMF bailout is new talk of trading rooms in Turkey as desperate measures haunt

Trading rooms are awash with talk of a bailout of the Turkish economy by the International Monetary Fund (IMF) and potential capital controls, Bloomberg...

Central bank lowers FX market reserve requirement limit to prevent value loss of lira

Turkey's central bank lowered the foreign exchange market reserve requirement limit on Monday in order to prevent subsequent value losses in the Turkish lira,...

Erdoğan threatens banks: Open up credit taps or you will face us

President Recep Tayyip Erdoğan on Tuesday called on Turkish banks to open up the “loan taps” to entrepreneurs or face the consequences. Speaking at his...

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