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Bank of China to open deposit bank in Turkey with Lira funding in exchange for $300 mln - banking watchdog
January 13, 2017 / 3:57 PM / 8 months ago

Bank of China to open deposit bank in Turkey with Lira funding in exchange for $300 mln - banking watchdog

ANKARA, Jan 13 (Reuters) - Turkey’s banking watchdog BDDK said on Friday the Bank of China had received permission to open a deposit bank with Turkish lira funding in exchange for $300 million.

In a statement, the BDDK said the Bank of China had brought the “necessary capital” and would apply to start functioning shortly. (Reporting by Tuvan Gumrukcu and Birsen Altayli; Editing by Angus MacSwan)

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