TODAY’S – 28 BIST 100 firms show weak performance on transparency

28 BIST 100 firms show weak performance on transparencyTwenty-eight of the firms on the Borsa Istanbul (BIST) 100 Index were found to be insufficiently transparent regarding corruption, according to research from the Turkish branch of Transparency International (TI).andldquoWe have seen that the situation in this country is not good.

It is certain that there are weaknesses in this country regarding the transparency of companies when it comes to how they publish their anti-corruption measures on the Internet and announce them to the public,andrdquo said Emre Dnmez, a researcher for TI who conducted the research in the report.andldquoThere are 10 banks on the BIST 100 Index that we found to be adequate [regarding transparency], although of course banks fall under a different law.

Since they are large and corporate, they publish their anti-corruption procedures on their websites with detailed information. On the other hand, the research found that companies in the real estate sector were not adequate and that they need to take steps in this area,andrdquo said Dnmez.

Each of Turkeyand#39s three most popular football clubs fared poorly, according to the research. andldquoImportant football clubs are also important sociologically, as millions of people follow and support them When looking at the websites of these clubs, they didnand#39t score well regarding transparency.

BeIiktaI received a rating of 15 percent, while Fenerbahe and Galatasaray did not receive any points in this area This is a bad situation,andrdquo said Dnmez.On July 3, 2011, police raided private homes and facilities of football clubs to detain some 60 people suspected of rigging football matches in two leagues.

Many high-ranking football officials from various clubs, including Fenerbahe and BeIiktaI, were arrested on charges of fraud and match-fixing.Turkeyand#39s perceived corruption level worsened more than that of any other country, according to a separate report by TI.

TIand#39s 2014 Corruption Perceptions Index saw Turkey drop five points to 45 on a scale of 100, ranking 64th out of 175 countries.Meanwhile, Turkey failed to implement most recommendations of the Council of Europeand#39s Group of States Against Corruption (GRECO) on the criminalization of corruption and the transparency of political funding.

Turkeyand#39s current level of compliance with the recommendations remains andldquolobally unsatisfactory,andrdquo GRECO said last month.In a follow-up report on the level of Turkeyand#39s compliance with GRECOand#39s recommendations on Wednesday, GRECO said Turkey only succeeded in fully implementing six GRECO recommendations out of 17, while seven recommendations remain partially implemented and four not at all.

SOURCE: Today’s Zaman