24.11.1999 - 00:00 | Son Güncellenme:
State Minister Yuksel Yalova expressed his opposition to the sell-off of Vakifbank. Yalova, who attended the 'Turkey-Reconstruction and Foreign Investment' conference, stated his view that although Vakifbank is a public bank and that he supports the privatisation of public banks in general, he opposes the sell-off of Vakifbank in particular.
"Vakifbank is not any public bank.. ... 75% of its shares are owned by the General Administration of Charities," explained Yalova. He asserted that instead of privatisation he favoured certain structural adjustments within the bank. "I personally do not like the term 'autonomise,' but I do think that what should be done with Vakifbank is to render the initiatives of those who are in ownership of charities effective in its administration," said the Minister.