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Turkey’s central bank to transfer $6.3bn dividends

Turkey’s central bank to transfer $6.3bn dividends

Mubasher: The Central Bank of the Republic of Turkey (CBRT) has approved the transfer of TRY 33.7 billion ($6.30 billion) dividends to shareholders.

The decision was taken following a meeting that was moved forward to precede local election in March, Reuters said.

“Following Friday’s annual general meeting, the bank said it agreed to transfer 90% of its profits to shareholders. The Turkish treasury holds the largest share in the bank with 55.1%,” the international news agency reported.

Image result for Turkey’s lira

Many investors think that President Tayyip Erdogan is pressuring the CBRT to lower interest rates, Reuters noted.

Turkey’s treasury and finance minister Berat Albayrak revealed that a significant proportion of the approved funds would be available to the government this month.