Deputy Minister becomes bank manager

It was learned that the exporters who submitted the highest offer to the Turkish Commercial Bank (Turkbank) with 455 million lira in the tender, which was hastily closed to the press before the elections, entered the tender through Export Development Inc. (IGE). Rıza Tuna Turagay, Vice Minister of Commerce, chairs the board of directors of İGE A.Ş., which was established 1 year ago to support exports under the leadership and association of the Turkish Exporters Assembly (TİM).

Awaiting TMSF APPROVAL

If the Savings Deposit Insurance Fund (TMSF) approves the sale to HDI, Deputy Minister Turagay will also become the head of Türkbank through HDI. Türkbank, with its 110-year history, is said to have fallen well below its value and there has been particularly quick action before the election to sell off to exporters.

The Türkbank tender announced by SÖZCÜ had a great impact in the field of economics. While some exporters, who are partners of HDI, commented on the tender with the words “We own a bank, but we don’t know it”, a representative of the company that participated in the tender said: “We have never heard of a company called İGE COMO. It was said that he came on behalf of TİM. But it doesn’t make much difference anyway,” he said.

Informant sources said that TİM cannot participate in such tenders as required by law, and that a bid was submitted on behalf of HDI, of which TİM and its members are partners. TİM owns 6.83 percent of the group A shares of İGE A.Ş. 5 percent of the company’s shares belong to Turk Eximbank, 72.8 percent to 62 exporter associations, 15.37 percent to 20 public and private banks.

Rıza Tuna Turagay, Vice Minister of Commerce, is also the President of Export Development Inc.

Our noses stink.

CHP deputy Erdoğan Toprak told SÖZCU after the tender that he had serious doubts about the sale. Toprak said: “There was a tender that was closed to the press and delivered to the address. 4 of the 7 companies that aspire to the bank are eliminated without any justification before the bidding begins. 2 of the 3 remaining companies do not even participate in the auction. Türkbank, which has two separate banking licences, cash assets and real estate, cannot be sold that cheap. Our noses stink. Exporters, perhaps, do not know the front. When we come to power, we will expose all of them,” he said.