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Bank of China applies for Turkish license

Bank of China has completed formalities to receive a banking license in Turkey. It has submitted the required documents, according to Turkey’s banking watchdog, Banking Regulation and Supervision Agency (BDDK). Mehmet Ali Akben, head of BDDK, said the required letters have been exchanged with Chinese officials and the licensing work will begin as soon as this process is finalized. It will take some time for them to find a building or launch IT technologies, but the application process is completed, he said.

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