Tough rules introduced in Turkey in 2005 to hold major bank shareholders and top managers personally accountable for inappropriate behaviour and losses at banks in the country helped ensure financial system stability during the global financial crisis, according to Ali Babacan, deputy prime minister of Turkey.
"Our banking system stood very, very strong during this crisis. No Turkish bank had any problems at all," Babacan told delegates attending the Global Islamic Finance Forum (Giff) 2012, hos
- Central banks may be thinking wrongly about inflation – Borio
- European Commission announces supervisory agency reforms
- Bank of Russia will be able to handle fallout from failing banks, analysts say
- Riksbank outlines three visions of ‘e-krona’
- All central banks may have to consider crypto-currencies – BIS