Turkey's Banking Regulation and Supervision Agency

Fatih Aydın, one of the founders of Çiftlik Bank (Farm Bank), an alleged Ponzi scheme that collected over 1.1 billion Turkish Liras (around $110 million) from more than 132,000 people, has been extradited to Turkey from Uruguay.

Turkey's Banking Regulation and Supervision Agency (BDDK) has announced on Tuesday that it will repeal the calculation of the Asset Ratio (AR), as of end of 2020 as part of the normalization steps.

Borsa Istanbul's banking index gained 3% while the U.S. dollar/Turkish lira exchange rate fell below 7.85 from 7.96 following the move.

Turkey on May 11 removed foreign exchange transactions bans with Turkish lira for three foreign banks -- BNP Paribas, Citibank, and UBS.

After banks fulfilled their Turkish lira commitments, the restrictions were removed, according to the information given by Turkey's Banking Regulation and Supervision Agency (BDDK).

Turkey has blocked three foreign banks- BNP Paribas, Citibank, and UBS- from doing foreign exchange transactions with the Turkish lira, the nation's banking watchdog announced on May 7. 

These banks failed to complete their Turkish lira commitments and so defaulted, said Turkey's Banking Regulation and Supervision Agency (BRSA).

Turkey's Banking Regulation and Supervision Agency (BDDK) has asked local lenders to set aside provisions for a total of 46 billion Turkish Liras (around $8 billion) worth of loans by the end of the year.

Turkey's Banking Regulation and Supervision Agency (BDDK) on June 28 approved the purchase of private lender Denizbank by the Emirates NBD Bank PJSC (ENBD) of United Arab Emirates. 

The value of assets belonging to companies seized by the Turkish state during the ongoing state of emergency is nearly 41 billion Turkish Liras (around $11.3 billion), Deputy Prime Minister Nurettin Canikli stated on July 7.      
 

Bank of China has completed its application to receive a banking license in Turkey after submitting the required documents, according to the head of the country's banking watchdog. 

"Online Bazaar," a new investment by Turkey's Hepsiburada.com, a market leader in the country's online retail sector, has attracted great interest from users since being launched in early 2016.

More than 2,000 stores have applied to be part of the application, according to Hanzade Do?an Boyner, the executive chairwoman of Hepsiburada.com. 

A commercial court in Istanbul has fined 11 people a total of some 25.6 billion Turkish Liras for "looting the accounts of ?mar Bank," which had its banking license canceled by Turkey's Banking Regulation and Supervision Agency (BDDK) in 2003.