Turkey

The fight against money laundering is to be widened to prevent the financing of terror and financial crimes. Factoring companies included within the scope of the amended law.

International markets provided a US$60m loan for Yapi Kredi Faktoring which will be used toward domestic factoring transactions.

The Finance Ministry has cancelled YTL49.5m of the YTL 89.5m Treasury aid to the Small and Medium Industry Development Organization (KOSGEB).

The share of total bank loans going to small and medium sized enterprises ( SME in English, or KOB I in Turkish) is increasing fast to 25 percent overall, and 40 percent for certain individual banks.

Halkbank, one of the largest public banks in Turkey, has prepared a package of easy loans for small and medium-sized enterprises (SMEs). The special bank credit plans within this package will be based not on the conventional banking principles, like high turnover and a strong balance sheet, but instead on trust.

Changes to the factoring regulations will commence in 2006 and will continue in 2007, and this will resolve many of the problems currently affecting Turkish factoring

The Banking Regulation and Supervision Board (BDDK) granted permission to the Istanbul Branch of the ABN AMRO NV for factoring and forfeiting transactions

The Turkish Union of Chambers and Commodities Exchanges (TOBB) and the Turkish Development Bank (TKB) signed a protocol of cooperation yesterday in Istanbul for a joint study to assess the

A package called the Anatolia Approach, devised to help solve the financial problems of 70,000 small- and medium-sized enterprises (SMEs), is on the way

The Banking Regulation and Supervision Board (BDDK) granted permission for factoring and forfeiting transactions to HSBC Bank