Read the King-Crane Commission Report of Mandates in Turkey (1919) Read the Convention Relating to the Regime of the Straits (24 July 1923) Read the Convention Relating to the Regime of the Straits (24 July 1923)
HR-Net - Hellenic Resources Network Compact version
Today's Suggestion
Read The "Macedonian Question" (by Maria Nystazopoulou-Pelekidou)
HomeAbout HR-NetNewsWeb SitesDocumentsOnline HelpUsage InformationContact us
Sunday, 22 December 2024
 
News
  Latest News (All)
     From Greece
     From Cyprus
     From Europe
     From Balkans
     From Turkey
     From USA
  Announcements
  World Press
  News Archives
Web Sites
  Hosted
  Mirrored
  Interesting Nodes
Documents
  Special Topics
  Treaties, Conventions
  Constitutions
  U.S. Agencies
  Cyprus Problem
  Other
Services
  Personal NewsPaper
  Greek Fonts
  Tools
  F.A.Q.
 

Cyprus PIO: Turkish Press and Other Media, 06-11-03

Cyprus Press and Information Office: Turkish Cypriot Press Review Directory - Previous Article - Next Article

From: The Republic of Cyprus Press and Information Office Server at <http://www.pio.gov.cy/>

TURKISH PRESS AND OTHER MEDIA No.213/06 03.11.06

[A] NEWS ITEMS

  • [01] The Cyprus meeting planned for the weekend in Finland has been cancelled; How the Turkish Cypriot and Turkish press cover the issue.
  • [02] Statements by Erdogan after meeting the Mongolian Prime Minister.
  • [03] Statements by Gul after returning from Moscow. Reference to the cancelled Helsinki meeting.
  • [04] Talat comments on Finlandīs decision to cancel Helsinki talks.
  • [05] Written statement by Soyer on the issue of the occupied fenced city of Varosha.
  • [06] Turgay Avci met with the Turkish Cypriot Chamber of Commerce and the British High Commissioner to Nicosia.
  • [07] Ozgurgun reiterates that they will not accept the withdrawal of the Turkish occupation army.
  • [08] Twenty five sterling pounds will be given to tour operators for every tourist they carry from Britain and Ireland to the occupied area of Cyprus.
  • [09] General Buyukanit started his contacts in Athens.
  • [10] Israeli and Turkish National Security General Secretaries met in Ankara.
  • [11] Turkish suicide bomber kills seven American soldiers in Iraq.
  • [B] COMMENTARIES, EDITORIALS AND ANALYSIS

  • [12] Yimpas scandal dominates Turkish internal politics.

  • [A] NEWS ITEMS

    [01] The Cyprus meeting planned for the weekend in Finland has been cancelled; How the Turkish Cypriot and Turkish press cover the issue

    Illegal Bayrak television (02.11.06) broadcast the following:

    The European Union Term Presidency Finland has announced that it has cancelled this weekends meeting on Cyprus in Helsinki.

    But, Susanna Parkonnen, the spokeswoman for the Finnish Foreign Minister Erriki Tuomioja, confirmed that the meeting between the TRNC President Mehmet Ali Talat and the Finnish Foreign Minister will take place in Brussels, as scheduled.

    The spokeswoman said that no chances have been left for the proposed meeting in Helsinki, but nevertheless, talks at political level would continue.

    A Finnish government spokesman, meanwhile, said that the cancellation of the Helsinki meeting is a sign of the difficulties involved in trying to rally all the interested parties around a table.

    Earlier, Finland had announced it was planning a meeting on the Cyprus issue at Foreign Ministers level in Helsinki.

    Furthermore, Turkish Cypriot daily KIBRIS newspaper (03.11.06), under the title The Helsinki Summit Fiasco, argues that the Finnish term presidency of the EU cancelled the three party meeting planned to take place in Helsinki next weekend because of the negative stance of the Greek Cypriot side, which said I am not sitting at the same table with the Turkish Cypriot side. The paper reports that Finland announced yesterday that it could not bring together the sides at the same table. Before participating in the meeting the Greek Cypriot side, notes KIBRIS, wanted Turkey to state that it would return the city of Varosha to the Greek Cypriots and asked for the participation of the Turkish Cypriots in Turkeys delegation. The Finnish Minister of Foreign Affairs Erkki Tuomioja, who referring to the cancellation of the Helsinki meeting, stated that they would continue their efforts at political level, will meet today in Brussels with the Turkish Cypriot leader Mehmet Ali Talat.

    In addition, Turkish Cypriot daily HALKIN SESI newspaper (03.11.06), under the title The Helsinki summit is annulled, reports that Mr Talat said the following on the issue: Apart from the imbalance of the Finnish package, it would again be useful to bring this process to a point through negotiations. The fact that this initiative was not realized did not please me. Referring to his meeting today in Brussels with Mr Tuomioja, Mr Talat noted: We will tell them that asking from us to make a step backwards on the issue of the partial lifting of the isolations is not fair.

    Turkish Cypriot daily VATAN newspaper (03.11.06) refers to Mr Talats statements and reports that he said they are certain that they are not the reason for the annulment of the Helsinki meeting and that they have absolutely no responsibility for this.

    Meanwhile, HALKIN SESI reports also that the Turkish Prime Minister Recep Tayyip Erdogan reiterated that the Turkish side does not accept the EU as the place of the solution of the Cyprus problem. In statements yesterday he said that the place of the solution of the Cyprus problem is the UN and added that trying to corner Turkey is wrong.

    Furthermore, Turkish Cypriot daily OZGUR DUSUNCE newspaper (03.11.06) reports that in statements after meeting the Prime Minister of Mongolia, Mr Erdogan said that yesterday he had a 45 minute telephone conversation with his Finnish counterpart, who conveyed to him their request for a three party meeting between the Ministers of Foreign Affairs of North Cyprus, South Cyprus and Turkey.

    Mr Erdogan added: We said that it is not possible for our Minister of Foreign Affairs to participate in a meeting of Ministers of Foreign Affairs in which Greeces Minister of Foreign Affairs does not participate. Here we said: If you want to turn your good will into practice, you can bring together the Ministers of Foreign Affairs of South Cyprus and North Cyprus. This will be the proof of your good will. If, however, you want to take the issue further, then convince Greece. Let Greeces Minister of Foreign Affairs participate as well. In case she participates, our Minister of Foreign Affairs could participate in this meeting.

    Noting that the Finnish plan had not been conveyed to them in writing, Erdogan argued: There is only a rumour. The existing rumour is not an issue on which we will assert, because this issue is serious and it cannot be done with rumours.

    Meanwhile, Turkish Cypriot daily CUMHURIYET newspaper (03.11.06), under the title Helsinki ended before it started, reports that it was obvious that the process which has been planned in an unskillful manner, would end like this.

    Turkish Cypriot daily AFRIKA newspaper (03.11.06) reports that the Finnish diplomacy, which is regarded very skilful, was not able to succeed as well. Stating that Finland was not able to bring the sides together, the Turkish Minister of Foreign Affairs, Abdullah Gul alleged yesterday that no one can blame Turkey and the Turkish Cypriots. Gul added: There are some things that can be done and other which cannot be done. Turkeys positions are very clear. Exerting efforts for a comprehensive solution is one thing and the work for overcoming the problems regarding the EU is another. Of course we always prefer an overall solution.

    Meanwhile, Turkish daily HURRIYET newspaper (03.11.06) writes that the warning of the Turkish Prime Minister Tayyip Erdogan, during a telephone conversation he had with the EU term President Finlands Prime Minister Matti Vanhanen the day before yesterday, that If Greece does not come, (at the meeting), we will not come as well, gave an end to the Finnish Plan before it even started.

    A note was conveyed to Erdogan at the time he was making statements about his conversation with Mr Vanhanen, that Finlands request for a meeting of the sides was abandoned. Erdogan stated that the request for a meeting of the Ministers of Foreign Affairs of Turkey, the Republic of Cyprus and the TRNC was conveyed to him as well. We said that if the Minister of Foreign Affairs of Greece would not participate in a Foreign Ministers meeting, it would not be possible for our Minister of Foreign Affairs to participate as well, he said. Mr Erdogan also stated that the Finnish Plan, which is referred to as a solution plan for Cyprus, is only a gossip.

    On the same issue Turkish daily MILLIYET newspaper (03.11.06) writes that the EU term President Finland, cancelled the Cyprus meeting it was planning to organize in Helsinki during the weekend. Finland, which announced that the reason for the cancellation was that the sides could not come around at the same table, has decided, however, to continue without stop the search for a solution.

    Finland saw the meeting as an element that could influence positively Turkey, before the announcement of the EU Progress Report on Turkey. The paper goes on and writes that the clearest reaction on the issue of the participation to the meeting came from the TRNC, according to sources. Turkey asked for the participation of Greece in order to participate in the meeting and the Greek Cypriot side stated that it does not want to share the same table with the TRNC and wants to hold talks with Turkey instead. Because of these developments there was no chance for the meeting to take place.

    The paper also writes that it appears the meeting was cancelled upon the insistence of the Greek Cypriot section not to participate in the Helsinki meeting with the TRNC, if Turkey would not participate as well. Turkish Prime Tayyip Erdogan, during a joint press conference yesterday with the Mongolian Prime Minister, Miyekombo Enkhbold, stated as regards Finlands proposal, that they conveyed to Finland the message that Turkey could not participate in the meeting without the participation of Greece. Erdogan added that Finlands proposal did not come to them in a written form and there were only gossips on the issue.

    Finally, invoking sources of the Turkish Ministry of Foreign Affairs, the paper writes that the Cypriot Minister of Foreign Affairs George Lillikas did not want to meet in Helsinki with the self-styled minister of foreign affairs of the occupation regime Turgay Avci.

    (I/Ts-C/S)

    [02] Statements by Erdogan after meeting the Mongolian Prime Minister

    Ankara Anatolia news agency (02.11.06) reported the following from Ankara:

    "We do not consider the EU a ground of solution for the Cyprus issue. The Cyprus issue should be resolved under the roof of the United Nations," said Turkish Prime Minister Recep Tayyip Erdogan on Thursday.

    Prime Minister Erdogan and Mongolian Prime Minister Miyekombo Enkhbold held a joint news conference following their tete-a-tete meeting.

    Upon a question, Erdogan told reporters: "I talked to Prime Minister Matti Vanhanen of Finland on the phone yesterday. He proposed me to hold a tripartite meeting with the participation of foreign ministers of Turkey, the Turkish Republic of Northern Cyprus (TRNC) and the Greek Cypriot administration. I told him that our foreign minister cannot participate in a meeting at which Greek foreign minister will not attend. If the EU wants to take action, it should bring together foreign ministers of the TRNC and the Greek Cypriot administration. Such a move will prove their good-will."

    Recalling that Finland had not yet sent a document about its plan on the Cyprus issue, Erdogan said: "There are only rumours. We cannot waste our time with such rumors. If they send us a document, we will assess it. On the other hand, no one should expect us to take unilateral steps. If they lift isolation of Turkish Cypriots, we will take the necessary steps about opening of Turkish ports and airports to the Greek Cypriot traffic."

    Prime Minister Erdogan and Mongolian Prime Minister Miyekombo Enkhbold held a joint news conference after signing the protocol on protection and restoration of Turkish monuments in Mongolia and the cooperation agreement in environment.

    Meanwhile, Prime Minister Enkhbold decorated Erdogan with the "Medal of Merit" of his country for his contributions to further development of bilateral relations between the two countries.

    Prime Minister Enkhbold also presented Turkish State Minister Besir Atalay with the "Medal of Genghis Khan", and Turkish State Minister Kursad Tuzmen and Prime Ministry Undersecretary Omer Dincer with the "Medal of Friendship" on the occasion of 800th anniversary of foundation of Mongolia.

    Erdogan said at the meeting: "A new era has begun in the bilateral relations between our countries. Our trade volume with Mongolia has increased by 66 percent since the day we came to the political power in 2002. Our trade volume is currently about 5 million USD. We want to increase it up to 50 million USD in the coming years. There are 11 Turkish investors in Mongolia and the amount of their investments reached 1.5 million USD."

    Meanwhile, Prime Minister Enkhbold said that they wanted to cooperate with Turkey in the fields of energy, infrastructure and agriculture.

    "Turkish Eximbank will provide us with a financial source of 20 million USD. It will make a significant contribution to our investments," he said.

    Upon a question, Erdogan said: "Prime Minister Enkhbold offered us to turn a building, which was used as the Lenin Museum earlier, into a museum of common culture of Turkey and Mongolia."

    (Tr. Note: Turkish Republic of Northern Cyprus is the secessionist regime the Turkish Republic has established in the occupied by 40,000 Turkish troops northern part of Cyprus in violation of the international law and repeated UN decisions, which Turkey arrogantly ignores for decades).

    [03] Statements by Gul after returning from Moscow. Reference to the cancelled Helsinki meeting

    Ankara Anatolia news agency (02.11.06) reported that the Turkish Foreign Minister, Mr Abdullah Gul returned from Russia to Turkey on Thursday.

    When he was reminded that Finland announced that its scheduled meeting on Cyprus was cancelled, Gul said: "Finland --currently holding the rotating EU presidency-- could not bring together related parties, because I think that parties and groups did not want to participate in the meeting."

    Stating that the Foreign Ministry of Finland has been exerting some well-meaning efforts in this regard, Gul said: "Turkey has supported efforts of Finland from the very beginning. Finland continues its talks with EU countries, but no conclusion has been reached yet."

    "Turkey's theses (regarding Cyprus) are obvious. We are in favor of a comprehensive solution. The UN should deal with this matter. If EU also assists it, we will be glad," he indicated.

    When he was reminded of some news reports that Turkey would not attend the planned meeting (on Cyprus) in Helsinki, Gul said: "I gave a clear answer to that question before my visit to Moscow. I said that mutual talks have been under way on format of the (mentioned) meeting and talks have not been ended."

    [04] Talat comments on Finlandīs decision to cancel Helsinki talks

    Illegal Bayrak television (02.11.06) reports that commenting on Finlands decision to cancel the Helsinki talks, Mr Mehmet Ali Talat said that he was disappointed with the failure of Finlands initiative to bring the parties together.

    Speaking to reporters in Istanbul today, Mr Talat said that he was not informed of the true reasons behind the cancellation and refrained from accusing anyone for the failure of the initiative.

    He however pointed to reports in the Greek Cypriot press that the Greek Cypriot side had put forward several preconditions to attend the meetings which he said could have led to the collapse of the initiative.

    Mr Talat said the failure of the initiative meant that the danger of a train crash in Turkeys EU accession talks over Cyprus still remained.

    He added that the Greek Cypriot side was constantly trying to exclude the Turkish Cypriots from the process and thus trying to present the Cyprus problem as one between itself and Turkey.

    Is a separate comment on Finlands decision, the self-styled Deputy Prime Minister-Foreign Minister Turgay Avci said that meeting was most likely cancelled because of the Greek Cypriot sides inflexible approach towards attending the meetings.

    [05] Written statement by Soyer on the issue of the occupied fenced city of Varosha

    Illegal Bayrak television (02.11.06) broadcast the following:

    Prime Minister Ferdi Sabit Soyer has emphasized once again that the Cyprus problem can not be solved without the participation of the Turkish Cypriot Side.

    Replying to remarks made by Greek Cypriot government spokesman Christodoulos Bashardis, Mr Soyer said that the Turkish Cypriots have the same right of say, and freedom to express its political will as do Greek Cypriots on Cyprus.

    Mr Bashardis had earlier claimed that the Turkish Cypriot People had no right to express its view on the future of Maras, and therefore it would be meaningless for Turkish Cypriots to attend the Helsinki meeting.

    In a written statement, Prime Minister Ferdi Sabit Soyer said it is necessary to struggle against supporters of the status quo on both sides of the island-Greek Cypriot and Turkish Cypriot alike.

    He also pointed to the fact that the Greek Cypriot politicians who have a domineering mentality are working to exclude Turkish Cypriots from all efforts towards finding a solution to the Cyprus problem. Pointing out that the Greek Cypriot Side is using it EU membership against the Turkish Cypriot Side, Mr Soyer stated that the Turkish Cypriot Side will continue its struggle towards finding a federal solution based on bi-zonality, bi-communality and political equality.

    (Tr. Note: Paragraph 6 of UN Security Council resolution 550 (11 May 1984) is as follows: (Quote):

    The Security Council,

    6. - Considers any attempts to settle any part of Varosha by people other than its inhabitants as inadmissible and calls for the transfer of this area to the administration of the United Nations.

    Paragraph 8 (c) of UN Security Council resolution 789 of 25 November 1992 is as follows: (Quote):

    (c) With a view to the implementation of resolution 550 (1984), the area at present under the control of the Force (United Nations Peace-keeping Force) be extended to include Varosha).

    [06] Turgay Avci met with the Turkish Cypriot Chamber of Commerce and the British High Commissioner to Nicosia

    Turkish Cypriot daily KIBRIS newspaper (03.11.06) reports that the self-styled Minister of Foreign Affairs Turgay Avci met yesterday with a delegation from Turkish Cypriot Chamber of Commerce (TCCC) under its chairman Erdil Nami.

    In statements during the meeting Mr Avci said that there is a need for intensive lobby work abroad and that this must be done in cooperation of all the institutions and civilian organizations. He argued that all the organizations must explain the rights of the Turkish Cypriots during their contacts abroad and ask why the promises given to them have not been fulfilled.

    KIBRIS reports also that the self-styled Minister of Foreign Affairs Turgay Avci met yesterday with the British High Commissioner in Cyprus, Mr Peter Millet and exchanged views with him on the recent developments regarding the Cyprus problem.

    (I/Ts.)

    [07] Ozgurgun reiterates that they will not accept the withdrawal of the Turkish occupation army

    Turkish Cypriot KIBRIS newspaper (03.11.06) reports that Huseyin Ozgurgun, leader of the National Unity Party (UBP), met yesterday with a delegation under the commander of the Security Forces, major general Mehmet Eroz.

    In a written statement issued after the meeting, Mr Ozgurgun noted that security is the most important element for the Turkish Cypriots and that the Turkish Peace Forces, as he described the Turkish occupation army, and the Security Forces are the main guarantee for the security of the Turkish Cypriot people.

    He said that they do not accept the withdrawal of the army and that if they were not here the Greek Cypriot-Greece duo would take the whole of Cyprus under their sovereignty.

    (I/Ts.)

    [08] Twenty five sterling pounds will be given to tour operators for every tourist they carry from Britain and Ireland to the occupied area of Cyprus

    Turkish Cypriot daily KIBRIS newspaper (03.11.06) reports that the self-styled Minister of economy and tourism, Enver Ozturk stated yesterday that they will be giving the sum of 25 sterling pounds as an incentive to the tour operators for every tourist they will bring from the United Kingdom (Great Britain - England, Scotland, Northern Ireland, Wales) and the Republic of Ireland to the illegal Tymbou airport, on condition that the tourists stay in hotels in the occupied areas for at least seven nights.

    Speaking during a press conference on the issue, Mr Ozturk said that they completed their work on the incentives as a result of intensive contacts with representatives of the sector and tour operators from London. He noted that the occupancy of the hotels in the occupied areas was 30 % in 2006 and that their aim is to increase it to 50 % in 2007.

    (I/Ts.)

    [09] General Buyukanit started his contacts in Athens

    Illegal Bayrak television (02.11.06) broadcast the following:

    The Chief of General Staff of the Turkish Armed Forces General Yasar Buyukanit is on an official visit to Greece as guest of his Greek counterpart Admiral Banayotis Hinofotis.

    The Turkish commander began his contacts in the Greek capital today by laying a wreath at the unknown soldier monument.

    General Buyukanit then visited his Greek counterpart Admiral Hinofotis for an exchange of views, during which, the Greek Defence Minister Vangelis Meimarakis was also present.

    Very rare between Turkey and Greece the meeting between the two commanders in chief focused more on ways to improve the mutual understanding and security between the two countries.

    [10] Israeli and Turkish National Security General Secretaries met in Ankara

    Ankara Anatolia news agency (02.11.06) reported the following from Ankara:

    Turkish National Security Council (MGK) Secretary General Yigit Alpogan received his Israeli counterpart Ilan Mizrahi in Ankara today.

    Alpogan and Mizrahi discussed Turkish-Israeli relations as well as regional and international issues that have a direct impact on the two countries.

    Mizrahi and his delegation will depart for Israel later today.

    Turkish NSC Secretary General Alpogan had visited Israel between May 17th-19th, 2005.

    [11] Turkish suicide bomber kills seven American soldiers in Iraq

    Turkish daily SABAH newspaper (02.11.06) in a report quotes an Istanbul family, who are originally from Bitlis, as saying that their son Ebubekir Yigit was the suicide bomber who killed seven American soldiers and injured 10 others in Iraq on 26 October.

    The Turkish Foreign Ministry has said that no such information has reached the ministry, according to the report, which also notes that in the last two years some 70 Turks have joined the Iraqi Fighters Council [Mucahitler Surasi], which is made up of Al-Qa'ida and seven Sunni organizations.


    [B] COMMENTARIES, EDITORIALS AND ANALYSIS

    [12] Yimpas scandal dominates Turkish internal politics

    Under the title: Government calling on judiciary to act on Yimpas Turkish Daily News newspaper (03.11.06) reports the following:

    The government called for the judiciary to take up the case of alleged embezzlement against thousands of Turkish workers in Germany in an effort to relieve the opposition pressure on it over claims that the ruling Justice and Development Party (AKP) is somewhat involved in the matter.

    Prime Minister Recep Tayyip Erdogan responded angrily on Wednesday, saying, "Not a penny from [Yimpas] can be found" in the party's coffers. "It is so ugly. Nobody has the right to launch a defamation campaign against the AKP while there is no arrest warrant [in Turkey] for that person," Erdogan said.

    Dursun Uyar, chairman of the board of the Yimpas Group, which is involved in a broad range of activities from construction to clothing, was reportedly wanted by Germany on an international warrant for swindling tens of thousands of Turks there. The German Embassy in Ankara could not immediately confirm the Turkish newspaper reports.

    Switzerland was investigating possible international fraud by the Yimpas Group, Jeanette Balmer, spokesman for the federal prosecutor's office in Switzerland, said Wednesday.

    Turkey's constitution bars the country from extraditing its citizens to other countries but makes provisions for a person to be tried at home.

    Authorities have so far not taken any action against Uyar, who has of late made several public appearances, including at the recent funeral of a legislator at which he was photographed praying shoulder-to-shoulder with several government ministers.

    The scandal surfaced after the HURRIYET newspaper published a photograph of Uyar at the funeral.

    Erdogan, Foreign Minister Abdullah Gul, Deputy Prime Ministers Abdullatif Sener and Mehmet Ali Sahin have all come out to criticize parties trying to link Yimpa with the AKP, noting that as the government they did not have the power to order prosecutors to investigate an individual.

    Gul said the collection of the money from Turkish workers in Germany was something that had occurred before their government, noting that the failure of previous governments to take the necessary precautions was now being blamed on the AKP. Just because we were at the same funeral does not mean we are linked to them. There are judges and prosecutors in Turkey, and they need to do what's necessary, I don't have the power to declare a person innocent or guilty. Some people are trying to imply we are protecting these individuals.

    Sener echoed Gul's words, noting that in democratic countries governments can not decide on one's guilt or innocence. There are 78 such so-called holdings in Turkey. They have been collecting money form people both here and overseas since the early 1990s, he said, noting that the money was collected illegally before their term. He said there were plenty of complaints filed against Yimpas executives and at a time when many were calling for more judicial independence, some were insisting on the government to pressure the courts to file charges.

    Erdogan on Wednesday said anyone who had any evidence on links between the AKP and Yimpas should bring it to him so that he could personally follow the investigation.

    Sahin said there were thousands of people who were victimized by such holdings and these people had filed complaints against the executives of such firms. Why should the taxpayers pay for the losses suffered by these people? The CHP is not providing an answer to the victims but, instead, is trying to attack the government by using the suffering of the victims.

    Opposition attacking the government over Yimpas:

    Opposition Republican People's Party (CHP) leader Deniz Baykal said on Tuesday that the AKP "doesn't have the courage, or its connections don't permit" it to take action against Uyar.

    Earlier this week, the opposition suggested that Erdogan's party had accepted funds from Yimpas when the party was formed in 2001, in exchange for a quota of around 20 parliamentary seats for company executives.

    The CHP submitted a motion to Parliament demanding that the party reply to these charges and accusations that Yimpas officials or their relatives were promoted to key bureaucratic posts.

    Yimpas history:

    Yimpas, founded in 1982, is one of several Islamic-oriented companies dubbed the "Anatolian Tigers" that sprung up in central Turkey in the 1980s and 1990s and helped transform the largely rural region into a home for economic powerhouses.

    The Islamic companies raised funds from pious Turkish guest workers in Europe who were not willing to put their money into banks and who were attracted by companies such as Yimpas, which offered investor shares and high dividends instead of interest, as well as the opportunity to invest in Turkey.

    Islam prohibits interest but permits dividends that are considered part of a company's profits and where payment is not guaranteed.

    Financial authorities began to closely scrutinize the Islamic companies after some officials were caught at Customs hauling money or gold into Turkey in suitcases.

    Turkey's Capital Markets Board (SPK), which oversees stock market trading, cracked down on Yimpas and other Islamic businesses for not properly registering with state authorities and for trading shares informally instead of on the Istanbul Stock Exchange (0MKB).

    Yimpas's fortunes began to unravel during Turkey's economic crisis of 2001, when investors began to demand their money. Thousands of investors were allegedly told they could not be paid.

    Turkish newspapers reported that Yimpas funds allegedly ended up in the bank accounts of private individuals.

    Appearing on CNN-Turk late on Tuesday, Uyar said all of the company's activities were legal and claimed the group was being unfairly hounded. "We are the victims here; we are all victims," he said.

    In an interview with MILLIYET newspaper, former Yimpas board member Kadir Sohret admitted that the company had collected up to $2.5 billion from pious Turks outside of mosques in Europe.

    /SK


    Cyprus Press and Information Office: Turkish Cypriot Press Review Directory - Previous Article - Next Article
    Back to Top
    Copyright © 1995-2023 HR-Net (Hellenic Resources Network). An HRI Project.
    All Rights Reserved.

    HTML by the HR-Net Group / Hellenic Resources Institute, Inc.
    tcpr2html v1.00 run on Friday, 3 November 2006 - 13:06:17 UTC