29/05/2004 anasayfa>>> <<<önceki gün   bugün   sonraki gün>>>
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English Last updated 17:02
29.05.2004
3-Year Prison to Say "Markets are Unreliable"

The draft of the Credit Institutions Law, which was prepared by the Banking-Regulating Board BDDK and opened to discussion in the sector, widens the scope of crimes and punishments in the banking sector.

The draft foresees a 3-year prison sentence for even saying "These markets are not trustworthy."

A section of the draft was dedicated to crimes and punishments in fifteen provisions. If adopted as a law, spreading news damaging the reputation of other banks wil be punished also by a 3-year prison sentence and a fine of 10-20 billion TL.  

 Those failing to take the measures in their banks ,  demanded by BDDK will face prison terms between 2 and 4 years and fines up to 10-25 billion TL.

If these acts are made to gain profits for one's companies and participations, the prison sentence will be between 4 and 6 years and the fine, minimum 5 times the amount of benefit  gained.

 


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