We get 4% from Amazon so when ordering CLICK BELOW


How Do You Know You Can Trust Turkish Cypriot Banking System?

How Do You Know You Can Trust Turkish Cypriot Banking System?According to the south’s Finance Minister, Harris Georgiades, Turkish Cypriot banks operate in an “unknown and not sufficiently supervised” environment and the Turkish Cypriot economy remains an “unknown factor”. He also insisted that should the Cyprus Problem reach a solution then it will be a precondition that the north’s banking system will have to operate under “the same rules and the supervision of the eurosystem” as part of the European banking union.

Why wait for a solution, especially as this could be forever? Surely, Turkish Cypriot banks such as Akfinans Bank Limited are at this very moment preparing for the solution expected over the next few months? Usually, banks are controlled by a country’s central bank. Are the south expecting the north’s banks to be controlled by the south’s central bank? They aren’t, and certainly haven’t been, doing a good job controlling the banks in the south so why should it be expected to do any better after the Cyprus problem is solved?

Furthermore, if the north keeps the Turkish lira then surely the banks should be controlled by Turkey.

Print Friendly, PDF & Email

3 comments to How Do You Know You Can Trust Turkish Cypriot Banking System?

  • Polly Marples

    You cannot.

    That’s why they have Bank Law 39/2001 to gag all critics.

  • fluter

    I have tried hard to think of anything or anyone I could trust in that place.

  • Polly Marples

    I know of several people who have been victims of fraudulent actions on their accounts. All the fault of bad banking practices and negligence. All lost their money and the banks accepted no liability whatsoever.