CBB Cancels Turkish Bank License in Bahrain amid Surge Saudi-Turkish Differences
2018-03-16 - 7:57 p
Bahrain Mirror: Central Bank of Bahrain announced cancelling the license granted to the Turkish bank "Turkiye Is Bankasi AS", amid an increase in differing views between Saudi Arabia and Turkey.
The decision issued by Central Bank of Bahrain Governor Rasheed Al-Maraj said that "it abolishes the license of Turkiye Is Bankasi AS granted in 2015 and registered under 92974 in the trade register."
The Saudi MBC group announced that it will stop airing Turkish television shows and attributed the decision to the high economic cost and push to support Arabic productions.
The Saudi group losses as a result of the decision are estimated at 50 million dollars, according to a report aired by Al-Mayadeen Channel.
Saudi relations with the United Arab Emirates on one hand and with Turkey on the other hand saw tensions due to the Gulf crisis.
Immediately after relations were served with Qatar, Turkey sent 3,000 soldiers to Doha in the framework of a strategic agreement and announced that it backs the Qatari stance.
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