December 1, 2017 / 7:11 AM / in 16 days

Turkey's Vakifbank denies involvement in processes mentioned in U.S. lawsuit

ISTANBUL, Dec 1 (Reuters) - Turkey’s Vakifbank said on Friday it had never had any interest or involvement whatsoever in any of the processes mentioned in the U.S. trial of a Turkish bank executive accused of helping to launder money for Iran.

“VakifBank has always acted in compliance with laws and related legislations and shown utmost care and diligence to act in accordance with the laws and the related legislations,” the bank said in a statement to the Istanbul stock exchange.

Turkish-Iranian gold trader Reza Zarrab testified in the United States on Thursday that two Turkish authorised Vakifbank and another lender to move funds for Iran.

Shares of VakifBank were down 1.6 percent in early trade in Istanbul. (Reporting by Ezgi Erkoyun; Writing by Daren Butler; Editing by David Dolan)

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