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First Merchant Bank (Northern Cyprus)
First Merchant Bank OSH Ltd (FMB) was an offshore bank of Northern Cyprus established in 1993. As an offshore bank it was not regulated by the Central Bank of the Turkish Republic of Northern Cyprus, and not allowed to trade with Northern Cyprus residents.''Federal Register'', 24 August 2004DEPARTMENT OF THE TREASURY, 31 CFR Part 103, RIN 1506-AA65 Federal Register Volume 69, Number 163 In August 2004 the US Financial Crimes Enforcement Network (FinCEN) designated it "a financial institution of primary money laundering concern" under Section 311 of the Patriot Act. The Northern Cyprus Ministry of Finance withdrew FMB's banking license in February 2007, and by April 2008 the bank's Ireland-registered major shareholder and its subsidiaries appeared defunct.''Federal Register'', 10 April 2008DEPARTMENT OF THE TREASURY, 31 CFR Part 103, RIN 1506-AA89 Federal Register Volume 73, Number 70 This company is not associated with First Merchants Bank, National Association or First Merchants C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offshore Bank
An offshore bank is a bank that is operated and regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. Due to less regulation and transparency, accounts with offshore banks were often used to hide undeclared income. Since the 1980s, jurisdictions that provide financial services to nonresidents on a big scale can be referred to as offshore financial centres. OFCs often also levy little or no corporation tax and/or personal income and high direct taxes such as duty, making the cost of living high. With worldwide increasing measures on CTF ( combatting the financing of terrorism) and AML ( anti-money laundering) compliance, the offshore banking sector in most jurisdictions was subject to changing regulations. Since 2002 the Financial Action Task Force issues the so-called FATF blacklist of "Non-Cooperative Countries or Territories" (NCCTs), which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fikri Sağlar
Fikri Sağlar (born 1953) is a Turkish social democrat politician. He was Minister of Culture in the early 1990s, and a member of the parliamentary commission which investigated the Susurluk scandal. He has been a columnist for ''Birgün''. In 1983, he was elected deputy chairman of the Social Democratic Populist Party (SHP). The SHP merged with the Republican People's Party The Republican People's Party (RPP; , CHP ) is a Kemalism, Kemalist and Social democracy, social democratic political party in Turkey. It is the oldest List of political parties in Turkey, political party in Turkey, founded by Mustafa Kemal ... (CHP) in the 1990s. Sağlar was a minister both in the 50th and in the 52nd government of Turkey. In 2001 Sağlar resigned from the CHP along with several others, having been referred to a disciplinary board (which cleared him) for allegedly working against the CHP's interests. He co-founded the new Social Democratic People's Party in 2002, becoming its Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Disestablished In 2007
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1993
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Northern Cyprus
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
