Turkey Bad Checks at 2-Year High After Jail Scrapped, Vatan Says

Turkey reported the highest number of bounced checks in two years in May after the government scrapped jail terms for those convicted of passing the checks, Vatan newspaper reported.

Istanbul Chamber of Commerce President Murat Yalcintas called for immediate steps to counter the increase, including the introduction of financial risk insurance products, the Istanbul-based newspaper said. Turkey recorded 83,080 bad checks in May, it said.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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