Turkey implements large reforms in last ten years

Photo: Turkey implements large reforms in last ten years / Politics

Baku, Azerbaijan, March 18
By Rufiz Hafizoglu - Trend

Turkey has implemented large reforms in many areas in the last ten years, Turkish President Abdullah Gul said on March 18, Turkish newspaper Sabah reported.

"These reforms have turned Turkey into a strong power," he added.

Gul said that significant reforms were also conducted in economic and legal areas.

"The Turkish banking sector has become one of the most reliable in the EU thanks to the reforms in the economic sector," the president said.

The Turkish banking sector is one of the leading sectors of the country's economy. Some 49 banks are operating in Turkey.

Some 36 of the total number of banks are commercial and 13 investment banks.

There are three public, 12 private banks (with full Turkish capital) and 16 banks were established with foreign capital in Turkey.

Some 789 bank branches opened in 2013. Thus, the number of bank branches in Turkey amounted to 11,023, according to the Banking Association.

Translated by NH
Edited by CN

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