Turkey’s Banking Regulation and Supervision Board announced on Wednesday, 25 Shahrivar, that the exercise of shareholder rights of the three main shareholders of Golden Global—except for the receipt of dividends—has been transferred to the Turkish Deposit Insurance Fund.
The decision covers 99.98% of the bank’s shares and does not mean a transfer of ownership, but rights including voting and participation in corporate decisions will be exercised by the fund. The regulator based this action on the relevant regulations regarding the transfer of shares without the necessary authorization, but it did not announce the details of the intended transfer.
On 13 Shahrivar, the U.S. Treasury Department imposed sanctions on Golden Global and its two subsidiaries and accused the bank of facilitating tens of millions of dollars in transactions for the Quds Force of the Islamic Revolutionary Guard Corps, as well as transferring Iran’s oil revenues. Golden Global has rejected these allegations.
Turkey’s decision was taken three days before the end of the OFAC license deadline for terminating relations with this bank. Iran International previously reported that in 2025 Golden Global carried out billions of dollars’ worth of foreign exchange, banknotes, and gold transactions and maintained correspondent accounts for 25 foreign banks.
Hashtags: ["Iran International"]
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