Istanbul, Turkey (CNN) -- In Turkey, you can't go far without coming across the name Sabanci. Sabanci Holding is the country's largest financial and industrial conglomerate. Also present in 17 other countries and covering financial, energy, cement and retail sectors, the giant accounts for 12% of Istanbul Stock Exchange, and employs 56,000 people. There is also a Sabanci University, a Sabanci Foundation and a Sakip Sabanci Museum in Istanbul.

NEW YORK- “We aim to bring long-term, stable resources to Turkey”, said Turkish Finance Minister Simsek. Turkish Finance Minister Mehmet Simsek said they aim to bring long-term, stable resources to Turkey. Simsek attended a meeting which hosted about 400 investors and fund managers, organized by Bank of America Merrill Lynch in New York. Later on he spoke at a press meeting in the Turkish House and said, he has been holding talks in groups with 400 fund managers in the past four days in London and New York and said, “These funds manage about $10 trillion sources in developing countries like Turkey.”

The failure of Fort Lee Federal Savings Bank, New Jersey's first bank failure of 2012, will cost the Federal Deposit Insurance Corp. about $14 million. Of the five banks to fail statewide since the start of the financial crisis in 2008, that sum is the smallest yet. 2011's failure of First State Bank in Cranford at $45.8 million was the most expensive for the FDIC, among the New Jersey insolvencies. And smaller, of course, is better for managers of the fund that backs customers' deposits up to $250,000. The organizers of Fort Lee Federal Saving Banks were Haralambos S. Kostakopoulos, Yasemin K. Kostakopoulos, Douglas J. Cestone, Paul Oesterle and Anthony J. Sansiveri. The organizers submitted the bank application on June 16, 2000. Kostakopoulos couple was known their support to Turkish American community.