Turkey's Banking Regulation and Supervision Agency (BDDK) on 17 March 2025 transferred to the Savings Deposit Insurance Fund (TMSF) the shareholder rights, excluding dividend rights, attached to the 79% stake in Bankpozitif Kredi ve Kalkınma Bankası held by Pay Fix Elektronik Para ve Ödeme Hizmetleri, the bank's qualifying shareholder.
The decision, numbered 11176, was taken under Article 18(5) of Banking Law No. 5411 following assessments made in connection with a judicial investigation into Pay Fix. The TMSF did not acquire the shares; it will exercise the shareholder rights attached to them.
In a statement, BankPozitif said the TMSF Fund Board had appointed members to its board of directors on the same date and that the bank would continue its banking activities under TMSF management.
ILLEGAL BETTING INVESTIGATION
The move came as part of an illegal betting and money-laundering investigation run by the Istanbul Chief Public Prosecutor's Office. Prosecutors had issued a detention order for Erkan Kork, the owner of BankPozitif, the Payfix payment service and broadcaster Flash TV, on allegations of leading an illegal betting organisation. Assets worth TL 6.9 billion were seized in the operation, and BankPozitif, Payfix and Flash TV were placed under state control.
Turkey's Financial Crimes Investigation Board (MASAK) found that nearly 50 million betting-related transactions, amounting to about TL 4.22 billion, had been processed through Payfix accounts and directed to cryptocurrency exchanges. Prosecutors allege that the gambling operations were incorporated into Payfix's systems.
BankPozitif, which does not accept deposits, was acquired by Payfix from Israel's Bank Hapoalim in 2023.
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