Turkey’s albatross around the neck: Halkbank


If you are following Turkey, soon you will hear the name of state-lender Halkbank as one of the biggest friction points between US and Turkey. Halkbank is currently on trial in a New York federal court on charges of money laundering and terror financing for Iran, to translate a difficult legal case into laywoman’s terms.  The bank’s petition to an appeals court  to have the trial dismissed is likely to be rejected. If found guilty, the bank could be liable for fees running into billions of dollars, which will have to be assumed by the Turkish Treasury. More damagingly, the New York DA may claim that the-then Turkish government, headed by current President Erdogan, may have known about the illicit activities that the lender had undertaken.


Ms. Selva Tor is an international commercial affairs expert who had spent years on the file. She is interviewed by Real Turkey Channel host Atilla Yesilada  to get to the bottom of this devilishly convoluted story:  Did the bank do it?  Why did the authorities   remain silent?  How would Halkbank damage Turko-American relations.  Better than a spy thriller.

Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.