In the wake of the financial crisis, governments have been considering ways to bolster foreign investment and shore up the financial system. Turkey hit on the idea of an ‘asset amnesty’ to attract deposits from wealthy expatriates and return money to the banking sector. Starting last November, the scheme was extended in June, and looks like it will be extended again in September when the current deadline ends. The scheme may be novel, but it has proved controversial. “The Turkish government has instituted a policy for Turks to bring back their money no questions asked — a few million dollars to come home, they say no problem, we’ll take 2 to 3 percent tax,” said an investment banker in Istanbul who wanted to remain anonymous. “It has not been completely welcomed around the world, as dirty money is going to be cleaned in Turkey, but for Ankara it’s a stop-gap
