Derya Gürerk Departs Türkiye Finans Participation Bank
Following allegations of corruption published on a Turkish finance website, Derya Gürerk, the CEO of Türkiye Finans Participation Bank, resigned on Friday.
The Turkish website alleged Mr. Gürerk had assigned his friend Hüseyin Cankurtaran’s company (Standart Değerleme) as a mediator in the purchase of a 200 million Turkish Lira ($73.6 million) worth plot for the building of the bank’s new headquarters in Istanbul’s finance center.
The bank said in a statement released on its website that Executive Vice President Osman Çelik will temporarily take the reins while the bank looks for a permanent replacement.
Gürerk was serving as CEO of Türkiye Finans Participation Bank and was a board member since June of 2011.
Gürerk also serves as the Board President of Participation Banks Association of Turkey, which brings together banks applying Islamic finance principles for their products and services. Gürerk has not announced his resignation from this post so far.
Sukuk Issued in 2014
Türkiye Finans issued a sukuk on 2014 for $500m which was more than twice over subscribed with a order book was USD1.4b from 125 accounts.
