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Turkey will pay all of seized Bank Asya's foreign debt, deputy PM says
March 16, 2017 / 8:46 AM / 6 months ago

Turkey will pay all of seized Bank Asya's foreign debt, deputy PM says

ISTANBUL, March 16 (Reuters) - Turkey will repay all the foreign loan obligations of seized Islamic lender Bank Asya, including a coupon payment on a $250 million sukuk that was due in September, Deputy Prime Minister Nurettin Canikli told the state-run Anadolu agency on Thursday.

Canikli, speaking to Anadolu in an interview broadcast live on television, said the liquidation process of the bank was still ongoing with no issues and that it would be completed within 2-1/2 to three years.

Bank Asya was founded by followers of the U.S.-based Islamic cleric, Fethullah Gulen, whom Ankara blames for orchestrating a failed coup last July. It has been hit along with other Gulen-linked companies in a government crackdown.

Reporting by Humeyra Pamuk; Editing by David Dolan

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