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    Turkish gov't authorized for bank deposit guarantee

    HotNewsTurkey Staff
    30.10.2008 - 18:15 | Son Güncelleme:

    The authorization guaranteeing bank deposits passed to government for a period of two-years, hurriyet.com.tr reported. The Turkish Savings Deposit Insurance Fund (TMSF) had previously held this authorization. (UPDATED)

    The Turkish parliament Planning and Budget Commission Thursday approved the ruling Justice and Development Party (AKP)-led draft bill.

     

    The decision was taken as commission discussions continue on legislation that would create incentives to attract funds held by Turkish citizens in overseas bank accounts.

     

    The deposit guarantee in Turkey now stands at 50,000 YTL ($32,433).

    Photo: Selcuk Senyuz

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