Golden Global Yatırım Bankası partnership rights transferred to TMSF

The Banking Regulation and Supervision Agency (BDDK) has decided that the Savings Deposit Insurance Fund (TMSF) will exercise all partnership rights, excluding dividends, for 99.98% of the shares in Golden Global Yatırım Bankası A. Ş. This decision involves the shares held by Emir Kaya (53.98%), Salih Berberoğlu (32%), and Recep Kaba (14%). The move was prompted by liquidity issues that prevented the bank from fulfilling its functions within the banking system. The decision does not constitute a transfer of ownership to the TMSF, but rather the management of partnership rights.

The regulatory action follows sanctions imposed by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) on September 4. OFAC placed Golden Global Yatırım Bankası, Golden Global Portföy Yönetimi, and Golden Global Varlık Kiralama on the SDN list, alleging the bank facilitated tens of millions of dollars in transactions for the Iranian Revolutionary Guard Corps Quds Force. Golden Global has denied these allegations, stating they do not conduct business with the sanctioned entities.

Turkish Treasury and Finance Minister Mehmet Şimşek announced that the bank has been removed from the SWIFT and EFT systems. He noted that the affected assets represent only 0.06% of the banking system and emphasized that there are no issues in communication with the United States.