Public banks collect billions in state funds amid graft debate

April 23, 2014, Wednesday/ 19:09:47/ TODAY'S ZAMAN

The government is continuing to transfer billions of dollars in cash from state funds to public banks amid discussions that these banks had difficulties in collecting large loans they had provided to firms close to the government to finance multiple acquisitions, including a media group.  Turkish media outlets reported on Wednesday that, as part of the obligation to transfer funds held in private banks to public banks, the Turkish Catastrophe Insur