The Banking Regulation and Supervision Agency (BDDK) has approved the establishment of a new bank.

The BDDK decisions that revoke the operating license of AGS Altın Gezegen Varlık Yönetim AŞ and permit the establishment of a new participation bank under the name Katılımevim Katılım Bankası A.Ş. have been published in the Official Gazette.

FINANCIAL COMPANY'S LICENSE REVOKED

According to the board decision published in the Official Gazette, the operating license of AGS Altın Gezegen Varlık Yönetim A.Ş., in which Saad Al-Janabi, who was found to have lost the required conditions for the founders, is a founding partner, has been revoked.

A NEW PARTICIPATION BANK IS BEING ESTABLISHED

Katılımevim Tasarruf Finansman A.Ş. has been granted permission to establish a participation bank named Katılımevim Katılım Bankası A.Ş. by Serdar Turhan, Ömer Burkay, Ahmet Özcan, and Selay Turhan İnce.