Turkey names new head to Savings Deposit Insurance Fund

ANKARA

The Turkish Cabinet has appointed a new head to the country's Savings Deposit Insurance Fund (TMSF), according to a notice published in Turkey’s Official Gazette on Friday.

Muhiddin Gulal has been a member of Turkey’s banking watchdog, the Banking Regulation and Supervision Agency (BDDK), since 2013.

Gulal was born in the Black Sea province of Giresun in 1971, and earned a bachelor's degree in political science from Ankara's Bilkent University, according to the agency.

He started his career in 1997 at Sumerbank as a deputy inspector. Gulal worked in the inspection departments of both Etibank and Anadolubank until 2010 before joining the TMSF.

Separately, the TMSF -- operating on decrees as part of Turkey’s ongoing state of emergency -- has been given power of trustee over 965 seized institutions by the Turkish state, Deputy Prime Minister Nurettin Canikli said in a statement on Friday.

ANKARA

The Turkish Cabinet has appointed a new head to the country's Savings Deposit Insurance Fund (TMSF), according to a notice published in Turkey’s Official Gazette on Friday.

Muhiddin Gulal has been a member of Turkey’s banking watchdog, the Banking Regulation and Supervision Agency (BDDK), since 2013.

Gulal was born in the Black Sea province of Giresun in 1971, and earned a bachelor's degree in political science from Ankara's Bilkent University, according to the agency.

He started his career in 1997 at Sumerbank as a deputy inspector. Gulal worked in the inspection departments of both Etibank and Anadolubank until 2010 before joining the TMSF.