Turkey’s Halkbank to pay any fine for Iran sanctions-busting - minister

Turkey’s state-run Halkbank will pay up should U.S. regulators fine the bank for breaking sanctions on Iran, Deputy Prime Minister Mehmet Şimşek said.

The government would also provide necessary financial support should Halkbank or any other firm fall into financial trouble due to any rulings, Şimşek told the Hurriyet newspaper in comments published on Friday.

“If Halkbank is fined, Halkbank would pay,” he said.

The government is also considering an incentives scheme involving indirect interest support for home purchases, Şimşek said.

The government’s credit guarantee scheme for industry, introduced last year, will be extended by 50 billion liras in lending mostly to exporters, manufacturers, female entrepreneurs and investment in agriculture, he said.