The Provincial Bank Responds to Allegations Regarding the Funds: ‘We Have No Investments in Any of the 131 funds.’
5 Articles
5 Articles
The Provincial Banks of Turkey responded to allegations made by CHP Karabük MP Cevdet Akay that public funds were being transferred to risky portfolio management companies and investment funds undergoing liquidation. The bank stated that it had not invested in any of the 131 investment funds under liquidation, declaring, "Not a single Turkish lira has been invested."
In a statement released by the Iller Bank, allegations made by CHP Member of Parliament Cevdet Akay that the bank caused losses by diverting public resources to investment funds undergoing liquidation were denied.
The Provincial Banks (İLBANK) denied allegations made by CHP Karabük MP Cevdet Akay that the bank had caused losses by diverting public funds to investment funds undergoing liquidation. The statement clarified that the Provincial Banks have no investments in any of the 131 investment funds subject to liquidation.
İller Bank (İLBANK) responded to CHP MP Cevdet Akay's claims of funds. Ilbak stated that he did not invest in liquidation funds and said: “Not a single Turkish lira has been invested in these investment funds since the establishment of our bank, so no withdrawals from these funds have been carried out.”
İller Bank (İLBANK) announced that it did not have investments in 131 investment funds in the liquidation process or in any other fund managed by portfolio management companies. Here are the details from that statement...
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