Bank manager and shareholder personal liability rules debated at Giff 2012
Tough rules introduced in Turkey in 2005 to hold major bank shareholders and top managers personally accountable for inappropriate behaviour and losses at banks in the country helped ensure financial system stability during the global financial crisis, according to Ali Babacan, deputy prime minister of Turkey.
"Our banking system stood very, very strong during this crisis. No Turkish bank had any problems at all," Babacan told delegates attending the Global Islamic Finance Forum (Giff) 2012
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