Turkey's banking watchdog seized control of bank

Turkey's banking watchdog seized control of a mid-sized private bank early on Mar 15, 2001 in a sign the government is determined to clean up a crisis-ridden banking sector that threatens the entire economy.

Iktisat Bank, 19th largest of some 80 banks in total assets, was seized less than a day after new economy chief Kemal Dervis announced radical measures to reform the huge state banks. The seizure of Iktisat was the second such move against a bank since a financial crisis broke in Feb 2001,

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