🔻U.S. sanctions on Iran; Turkey’s banking oversight body transferred shareholder rights for almost all shares of Golden Global Bank

Turkey’s regulatory and banking supervision authority announced that the shareholder rights related to almost all shares of the investment bank “Golden Global” have been transferred to the country’s deposit insurance fund; an action taken less than two weeks after the bank based in Istanbul was sanctioned by the United States due to allegations of links with Iran.

The authority said on Wednesday that the deposit insurance fund, known as TMSF, would exercise the shareholder rights related to shares belonging to the bank’s shareholders; with the exception that dividend rights will not be transferred to this fund.

Under this decision, the aforementioned fund gains the authority to exercise shareholder rights related to these shares, but the right to receive dividends is specifically excluded from this authority.