According to reports, the decree calling for the transfer of all Emlakbank units linked to real estate to the Collective Housing Administration, could...
The draft of the decree was the focus of the meeting, in which a clause basically outlined that all Emlakbank assets not related to the banking sector have been transferred to the Collective Housing Administration on their balance sheet value.
The draft also stated that Turkeys minister of the economy Kemal Derviş and the minister in charge of Emlakbank, Faruk Bal, will be responsible in enforcing this clause.
The draft of the decree states that the board of directors of banks are in charge of the methods and principles in hiring new employees. The boards are also accountable for restructuring banks and completing the groundwork for their future privatization.
Bank officials aim to reduce the time-frame through this new decree and to tie up all loose ends before the bankers general assembly meet, as they anticipate dispatching the legislation for the establishment of an undersecretariat of real estate to Parliament.
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