Turkish banks’ dependence on external funding was back in focus in January after one of the country’s leading bankers was found guilty of involvement in a multi-billion dollar scheme to evade sanctions on Iran.
Mehmet Hakan Atilla, the former deputy chief executive of state-controlled lender Halkbank, was arrested last March at JFK airport in New York at the end of a bond roadshow. He was convicted on January 3 of conspiracy to violate US sanctions law and commit money laundering by a federal court in New York after a three-week trial.
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