Turkey Plans Central Bank in Istanbul in 2 Years, Milliyet Says

Turkey’s central bank will move to Istanbul within two years under draft legislation submitted to the parliament, Milliyet newspaper reported.

The headquarters of the bank, and state-run lenders Turkiye Vakiflar Bankasi TAO and Turkiye Kalkinma Bankasi, will move from Ankara, according to the draft, the newspaper said. The government added the measures to legislation on restructuring tax debts, it said.

The legislation also establishes a risk management unit as part of the banking association. Other steps added to the legislation include extended leave for civil servants with new- born children.

To contact the editor responsible for this story: Steve Bryant at [email protected]

via Turkey Plans Central Bank in Istanbul in 2 Years, Milliyet Says – Bloomberg.