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Isbank’s CEO Airs Rare Criticism of Turkey’s Economic Policies

  • Bank says policies piling government debt on banks are risky
  • Criticism largely aimed at recent central bank decisions
Tayyip Erdogan

Tayyip Erdogan

Photographer: Oliver Bunic/Bloomberg

Isbank, Turkey’s second largest lender by market value, called for a reversal of recent regulations that are forcing banks to hold an outsized amount of government debt, a rare act of public criticism aimed at policymakers.

Turkiye Is Bankasi AS Chief Executive Officer Hakan Aran said at a finance conference in Istanbul that the regulations are putting at risk both the banking system and the success of Turkey’s so-called new economy model championed by President Recep Tayyip Erdogan.