Sale by Hungarian central bank challenged on transparency grounds

Central bank says process ‘transparent’, but local organisation brings legal challenge

gyorgy-matolcsy
MNB governor György Matolcsy

The Hungarian central bank has completed the privatisation of a commercial bank that it took over in December 2014, it announced on June 30.

The Central Bank of Hungary (MNB) says in its statement that its sale of MKB Bank to three private groups of investors was "open, transparent and non-discriminatory", but local transparency campaigners have called it highly controversial.

The sale is "highly unusual", says Miklós Ligeti of Transparency International Hungary. Very little is known about some

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