Turkey’s missing $128bn triggers publicity campaign and police action

Turkey’s former Central Bank Governor Naci Agbal in his office in Istanbul, Turkey, Feb. 4, 2021. Agbal was reportedly fired after he tried to launch an investigation into the missing reserves. (Reuters)
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Updated 16 April 2021
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Turkey’s missing $128bn triggers publicity campaign and police action

  • The Republican People’s Party (CHP) said $128 billion of foreign reserves were used during former Finance Minister Berak Albayrak’s tenure to stabilize the Turkish lira
  • Turkish President Recep Tayyip Erdogan said on Feb. 24 that the massive sum of money was channeled into the country’s fight against coronavirus

ANKARA: 
Missing reserves of $128 billion from Turkey’s Central Bank has triggered a publicity campaign from the country’s opposition party demanding to know the money’s whereabouts and police action to stop the question from being asked.

The Republican People’s Party (CHP) said $128 billion of foreign reserves were used during former Finance Minister Berak Albayrak’s tenure to stabilize the Turkish lira, which has been plummeting in value, and that it was a party’s constitutional right to probe where the country’s reserves were being spent.

It hung CHP banners up around the country asking about the missing money, while also trying to raise awareness about the financial hardships that Turkey was facing.

Police, using water cannons and armed vehicles, moved in to stop the party’s efforts. Banners hung up on balconies were removed by officers under the pretext of pandemic measures.

The CHP has vowed to keep displaying the banners on buildings and billboards for as long as the police keep removing them.

“We are asking about the money of the poor, those in need and orphans,” tweeted CHP leader Kemal Kilicdaroglu.

Hundreds of CHP lawmakers and party members changed their social media profile pictures to “128” in reference to the publicity campaign.

Naci Agbal, the Central Bank’s former governor, was reportedly fired after he tried to launch an investigation into the missing reserves.

The bank has changed governors four times in the last 20 months, each of them sacked through presidential decree without any reason given for their dismissal.

Turkish President Recep Tayyip Erdogan said on Feb. 24 that the massive sum of money was channeled into the country’s fight against coronavirus.

The bank’s reserves are currently believed to stand at around $43.2 billion. 

Goldman Sachs said in November that the bank had misspent over $100 billion of its reserves to stop the lira’s depreciation during the first 10 months of 2020.

“NASA’s budget for 2020 is $22.6 billion,” tweeted prominent journalist Serif Turgut. “We could have even gone to Mars with $128 billion.” 


CHP lawmaker 
Kamil Oktay Sindir said the missing reserves showed the lack of financial transparency in the country, where several public-private partnership projects had been exempted from the audit of Turkey’s Court of Accounts.

He explained that one of the key missions of lawmakers, who were representatives of the people’s will, was to monitor Turkey’s budget and financial resources.

“We derive this right from the constitution,” he told Arab News. “Turkish people, who are already paying huge taxes, deserve accountability from the government about each penny it spends. Such moves of the Central Bank seriously undermine the Turkish economy’s credibility and they discourage foreign investors from investing in the country, as their trust in the functioning of the economy is getting eroded. The economic functioning of a country shouldn’t be so dependent on a one man-rule.”


Gaza’s Islamic Jihad says Israeli hostage tried to take own life

Updated 3 sec ago
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Gaza’s Islamic Jihad says Israeli hostage tried to take own life

DUBAI: An Israeli hostage held by Gaza’s Islamic Jihad militant group has tried to take his own life, the spokesperson for the movement’s armed wing said in a video posted on Telegram on Thursday.
One of the group’s medical teams intervened and prevented him from dying, the Al Quds Brigades spokesperson added, without going into any more detail on the hostage’s identity or current condition.
Israeli authorities did not immediately respond to a request for comment.
Militants led by Gaza’s ruling Hamas movement killed 1,200 people and took 251 others hostage in an attack in southern Israel on Oct. 7, 2023, according to Israeli tallies. Hamas ally Islamic Jihad also took part in the assault.
The military campaign that Israel launched in response has killed more than 45,500 Palestinians, according to health officials in the coastal enclave.
Islamic Jihad spokesman Abu Hamza said the hostage had tried to take his own life three days ago due to his psychological state, without going into more details.
Abu Hamza accused Israeli Prime Minister Benjamin Netanyahu’s government of setting new conditions that had led to “the failure and delay” of negotiations for the hostage’s release.
The man had been scheduled to be released with other hostages under the conditions of the first stage of an exchange deal with Israel, Abu Hamza said. He did not specify when the man had been scheduled to be released or under which deal.
Arab mediators’ efforts, backed by the United States, have so far failed to conclude a ceasefire in Gaza, under a possible deal that would also see the release of Israeli hostages in return for the freedom of Palestinians in Israeli prisons.
Islamic Jihad’s armed wing had issued a decision to tighten the security and safety measures for the hostages, Abu Hamza added.
In July, Islamic Jihad’s armed wing said some Israeli hostages had tried to kill themselves after it started treating them in what it said was the same way that Israel treated Palestinian prisoners.
“We will keep treating Israeli hostages the same way Israel treats our prisoners,” Abu Hamza said at that time. Israel has dismissed accusations that it mistreats Palestinian prisoners.

Israeli airstrikes kill at least 16 in southern Gaza

Updated 12 min 40 sec ago
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Israeli airstrikes kill at least 16 in southern Gaza

At least 16 Palestinians were killed in two separate Israeli airstrikes in the southern Gaza Strip on Thursday, according to medics.

One strike targeted the Hamas-run interior ministry headquarters in Khan Younis, killing six people. Another airstrike hit a tent encampment in Al-Mawasi, a designated humanitarian zone for displaced civilians, killing at least 10 people, including women and children, and injuring 15 others.

Among the dead in the Al-Mawasi strike were Mahmoud Salah, Gaza's police chief, and his aide Hussam Shahwan, the head of Hamas security forces in southern Gaza, according to the Hamas-run Gaza interior ministry. The ministry condemned the attack, accusing Israel of seeking to deepen the humanitarian crisis in Gaza.

The Israeli military described the strike in Al-Mawasi as intelligence-based, targeting Shahwan but did not acknowledge Salah's death.

The Gaza health ministry reports over 45,500 Palestinians have been killed since the war began, with most of Gaza’s 2.3 million residents displaced and large portions of the territory in ruins. The conflict, now in its 15th month, began after Hamas’ cross-border attack on October 7, 2023, which killed 1,200 people and resulted in 251 hostages being taken to Gaza, according to Israeli authorities.


27 migrants die off Tunisia, 83 rescued, in shipwrecks: civil defence

Updated 27 min 47 sec ago
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27 migrants die off Tunisia, 83 rescued, in shipwrecks: civil defence

TUNIS: Twenty-seven migrants, including women and children, died after two boats capsized off central Tunisia, with 83 people rescued, a civil defense official told AFP Thursday.
The rescued and dead passengers, who were found off the Kerkennah Islands off central Tunisia, were aiming to reach Europe and were all from sub-Saharan African countries, said Zied Sdiri, head of civil defense in the city of Sfax.


Syria forces launch security sweep in Homs city: state media

Updated 02 January 2025
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Syria forces launch security sweep in Homs city: state media

  • Syrian security forces are conducting a security sweep in the city of Homs, state media reported on Thursday

DAMASCUS: Syrian security forces are conducting a security sweep in the city of Homs, state media reported on Thursday, with a monitor saying targets include protest organizers from the Alawite minority of the former president.
“The Ministry of Interior, in cooperation with the Military Operations Department, begins a wide-scale combing operation in the neighborhoods of Homs city,” state news agency SANA said quoting a security official.
The statement said the targets were “war criminals and those involved in crimes who refused to hand over their weapons and go to the settlement centers” but also “fugitives from justice, in addition to hidden ammunition and weapons.”
Since Islamist-led rebels seized power in a lightning offensive last month, the transitional government has been registering former conscripts and soldiers and asking them to hand over their weapons.
“The Ministry of Interior calls on the residents of the neighborhoods of Wadi Al-Dhahab, Akrama not to go out to the streets, remain home, and fully cooperate with our forces,” the statement said.
Rami Abdel Rahman, who heads the Britain-based Syrian Observatory for Human Rights war monitor, told AFP the two districts are majority-Alawite — the community from which ousted President Bashar Assad hails.
“The ongoing campaign aims to search for former Shabiha and those who organized or participated in the Alawite demonstrations last week, which the administration considered as incitement against” its authority, he said.
Shabiha were notorious pro-government militias tasked with helping to crush dissent under Assad.
On December 25, thousands protested in several areas of Syria after a video circulated showing an attack on an Alawite shrine in the country’s north.
AFP was unable to independently verify the footage or the date of the incident but the interior ministry said the video was “old and dates to the time of the liberation” of Aleppo in December.
Since seizing power, Syria’s new leadership has repeatedly tried to reassure minorities that they will not be harmed.
Alawites fear backlash against their community both as a religious minority and because of its long association with the Assad family.
Last week, security forces launched an operation against pro-Assad fighters in the western province of Tartus, in the Alawite heartland, state media had said, a day after 14 security personnel of the new authorities and three gunmen were killed in clashes there.


Palestinian Authority suspends broadcast of Qatar’s Al-Jazeera TV temporarily

Updated 02 January 2025
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Palestinian Authority suspends broadcast of Qatar’s Al-Jazeera TV temporarily

  • The authority accuses the broadcaster of sowing division in the Middle East and Palestine
  • The authority says Al-Jazeera was airing 'inciting material' from Jenin camp in the West Bank

CAIRO: The Palestinian Authority suspended the broadcast of Qatar’s Al-Jazeera TV temporarily over “inciting material,” Palestinian official news agency WAFA reported on Wednesday.
A ministerial committee that includes the culture, interior and communications ministries decided to suspend the broadcaster’s operations over what they described as broadcasting “inciting material and reports that were deceiving and stirring strife” in the country.
The decision isn’t expected to be implemented in Hamas-run Gaza where the Palestinian Authority does not exercise power.
Al-Jazeera TV last week came under criticism by the Palestinian Authority over its coverage of the weeks-long standoff between Palestinian security forces and militant fighters in the Jenin camp in the occupied West Bank.
Fatah, the faction which controls the Palestinian Authority, said the broadcaster was sowing division in “our Arab homeland in general and in Palestine in particular.” It encouraged Palestinians not to cooperate with the network.
Israeli forces in September issued Al-Jazeera with a military order to shut down operations, after they raided the outlet’s bureau in the West Bank city of Ramallah.