Turkey: One minister – one bank

If you want a loan from a Turkish state-owned bank, don't talk to its manager. The man who makes the real decisions is a cabinet minister. As Metin Munir reports, this set-up is crippling Turkey's banking system and distorting its economy, but there is little political will to change things

Yasar Topcu, a conservative member of parliament, was very fond of his waiter at Anadolu Kulubu, the exclusive club in Ankara for MPs and senior bureaucrats. When he became minister of communications last summer, Topcu decided to do his old friend a favour. He appointed Ali Cebeci to the board of Iller Bank, a large state bank whose function is to channel billions of lira in loans to Turkey’s 3,200 municipalities. However, someone slipped the story to the media, a small scandal erupted and Cebeci was forced to give up his post.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access