Bloomberg News

Turkish Leasing Industry to Benefit From New Law, Milliyet Says

June 26, 2012

The Turkish leasing industry will benefit from a new draft law being discussed by the parliament, Milliyet newspaper reported, citing Unal Gokmen, chief executive officer of Garanti Leasing.

The ‘sell and lease back’ clause of the new law will enable small- and medium-sized enterprises to access cash by selling their assets and leasing them back afterwards, Gokmen said, according to the Istanbul-based newspaper.

Garanti Leasing is a unit of Turkiye Garanti Bankasi AS (GARAN), Turkey’s biggest listed bank by market value.

To contact the reporter on this story: Sibel Akbay in Istanbul at sakbay@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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