Turkey's parliament approved two of the three articles of the IMF-required banking draft. Three articles of the banking law were vetoed by the President and sent back to the parliament for further discussions. The parliamentary commission previously approved the articles without any change. If also the general assembly the parliament passes the articles without making any amendment, the President should have to ratify the law this time. The general assembly is expected to be taken up the third article on October 18. Another IMF-required law on social security will be discussed by the parliamentary commission next week. The passage of the two articles was a pre-condition for the completion of the first review.
Turkey moves on banking reform