Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
TASS reports 3 people were injured in a drone attack in the Rostov region, after a fire broke out at a facility in the industrial zone
Ukraine's Ministry of energy reports massive attack on energy facilities in the country
Taiwan's Ministry of Defense: One Chinese balloon was spotted in the Taiwan Strait on Monday
Israeli media reports injuries in ramming operation in al-Naqab.
Sheikh Daamoush: Zionists must remain worried, as they have committed a grave error.
Sheikh Daamoush: All concessions given by Lebanese government to date bore no fruit.
Sheikh Daamoush: It is the duty of the state to protect its citizens and sovereignty, government must push plans to that effect and refuse external pressures, diktats.
Sheikh Ali Daamoush: We are not concerned with any plans so long as enemy not abiding by ceasefire.
Israeli media says reports incoming of suspected ramming operation in Tal al-Sabe', al-Naqab.
Sheikh Daamoush: Sayyed Abou Ali's martyrdom will not undermine resistance or prevent it from continuing his plans.

Turkish Central Bank $1.6 billion quake pledge instigates controversy

  • By Al Mayadeen English
  • Source: Agencies
  • 17 Feb 2023 15:13
  • 1 Shares
2 Min Read

A seven-hour event aired on hundreds of Turkish TV and radio channels earned 115.1 billion liras, including donations from the central bank and local lenders.

  • x
  • A picture shows the logo of Turkey's Central Bank (TCMB) at the entrance of the bank's headquarters in Ankara, Turkey. (AFP)
    A picture shows the logo of Turkey's Central Bank (TCMB) at the entrance of the bank's headquarters in Ankara, Turkey. (AFP)

The Trukish central bank is forced to justify a $1.6 billion payment to survivors of the country's catastrophic earthquake, which appears to have been made without the approval of the Treasury.

Governor Sahap Kavcioglu said, as quoted by the Hurriyet daily, that the bank pulled the money from its profits and preferred a direct payment over the typical process of passing revenues to the government.

The pledge made during Wednesday's televised relief campaign sparked outrage for utilizing Treasury cash before the central bank revealed its profit for last year.

“If we had transferred this money to the Treasury, the Treasury could have used it in another area,” Kavcioglu said, as quoted by Hurriyet in an interview published on Friday. 

“We directly allocated this share to the quake zone.”

Read next: GoFundMe refuses to help Syria

A seven-hour event aired on hundreds of Turkish TV and radio channels earned 115.1 billion liras, including donations from the central bank and local lenders, for the Turkish disaster management authority, AFAD, as well as the Turkish Red Crescent.

It is worth noting that a presidential decree released on Friday exempted lenders from the legal donation limit of 0.4% of equity under the nation’s banking law for quake aid. 

The directive will be in effect until the end of a three-month emergency rule in the earthquake zone, which was imposed following a pair of tremors on Feb. 6. 

State-owned banks were among those who made significant contributions. Turkey's largest bank by assets, Ziraat Bank, contributed 20 billion liras, while Vakifbank and Halkbank committed 12 billion and 7 billion liras, respectively.

Read next: Scammers profiting from Turkey-Syria earthquake: BBC

  • Turkey earthquake
  • Turkish Central Bank
  • pledge
  • Treasury

Most Read

Inside the Epstein-Rothschild web behind 'Israel’s' spy tech empire

Inside the Epstein-Rothschild web behind 'Israel’s' spy tech empire

  • Politics
  • 19 Nov 2025
Hezbollah announces the martyrdom of Haitham al-Tabatabai

Hezbollah announces the martyrdom of commander Haitham Tabatabai

  • West Asia
  • 23 Nov 2025
Democracy at the civilizational crossroads: Critical analysis of bourgeois Democracy, its alternatives

Democracy at the civilizational crossroads: Critical analysis of bourgeois Democracy, its alternatives

  • Analysis
  • 19 Nov 2025
US readies covert, military measures to oust Maduro: NYT

US signs off on covert CIA operations inside Venezuela: NYT

  • Politics
  • 19 Nov 2025

Coverage

All
In Five

Read Next

All
Vassily Nebenzia, permanent representative of Russia to the United Nations, speaks during a meeting of the UN Security Council, March 29, 2022, at United Nations headquarters (AP Photo/John Minchillo, File)
Politics

Russia alarmed by reports of Israeli funding for anti-Hamas groups

A Lebanese citizen shouts slogans as he carries a portrait of Hezbollah's Chief of Staff Haitham Tabtabai during his funeral procession in the southern suburb of Beirut, Lebanon, Nov. 24, 2025. (AP)
Politics

IRGC: Hezbollah, AoR hold right to avenge martyr Al-Tabatabai

A Palestinian carries the body of a man killed while trying to receive aid near a distribution center operated by the U.S.-backed Gaza Humanitarian Foundation (GHF) in Netzarim, in the Gaza Strip, Aug. 4, 2025. (AP)
Politics

GHF meets 'deserved' end in Gaza after enabling genocide: Hamas

Ali Larijani, Secretary of Supreme National Security Council (SNSC) and Pakistan's Ambassador to Iran in the background (X/@AmbMudassir)
Politics

Larijani’s Pakistan visit signals strategic regional alignment: Excl.

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS