ISTANBUL: Turkey's Capital Markets Board approved the liquidation of six funds managed by Golden Global Portfoy, according to its bulletin, following U.S. sanctions imposed on companies linked to the group over Iran-related activities.
The funds include Golden Global's short-term lease certificates, gold and money market participation funds, as well as three venture capital investment funds managed by the company.
Earlier this month, the U.S. Treasury Department imposed sanctions on Golden Global Yatirim Bankasi and two subsidiaries as part of the Trump administration's campaign to increase economic pressure on Iran.
On Wednesday, the Savings Deposit Insurance Fund took over the rights of a 99.98% stake in Golden Global Yatirim Bankasi held by its three shareholders, effectively placing control of the bank under state-appointed management.
