Turkey bank regulator dismisses 'rumors' after Iran sanctions report

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Turkey bank regulator dismisses 'rumors' after Iran sanctions report
Orhan Coskun3 Min Read

ANKARA (Reuters) - Turkey’s banking regulator urged the public on Saturday to ignore rumors about financial institutions, in an apparent dismissal of a report that some Turkish banks face billions of dollars of U.S. fines over alleged violations of Iran sanctions.

“It has been brought to the public’s attention that stories, that are rumors in nature, about our banks are not based on documents or facts, and should not be heeded,” the BDDK banking regulator said in a statement, adding that Turkey’s banks were functioning well.

The Haberturk newspaper on Saturday reported that six banks potentially face substantial fines, citing senior banking sources. It did not name the banks. One bank faces a penalty in excess of $5 billion, while the rest of the fines will be lower, it said.

Continued at: http://www.reuters.com/article/us-usa-turkey-banks/turkey-bank-regulator-dismisses-rumors-after-iran-sanctions-report-idUSKBN1CQ0IH