Turkey seizes Libya Foreign Bank Arab-Turk bank stake
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Jul 05, 2011 - 12:00 am GMT+3
by Jul 05, 2011 12:00 am
Turkey's state Savings and Deposit Insurance Fund (TMSF) has seized Libyan Foreign Bank's shares in Turkey's Arab-Turk bank, Turkey's banking regulator said in a statement on Monday.
Libyan Foreign Bank holds 62.37 percent of Turkish Islamic lender Arab Turk bank.
The move is part of U.N. sanctions against the government of Muammar Gaddafi.
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