Bank Asya shares skyrocket after trading resumes


Date posted: March 29, 2014

ISTANBUL

Bank Asya, which had seen its shares jump by over 44 percent after Qatar Islamic Bank (QIB) said on Tuesday it had entered into exclusive discussions to acquire a stake in the Turkish lender, saw trading of its shares resume after a halt due to unusual price-quantity movement on Friday morning.

Trading of Bank Asya shares was on a halt on Friday until 9:51 a.m. but resumed hours later. Shares saw an 8.13 percent rise and passed the 66.4 percent mark in the last four days. Shares are being traded at TL 1.73 as of early Friday afternoon.

The Islamic bank has been in the spotlight since Turkish media reported that state-owned companies and institutional depositors loyal to Prime Minister Recep Tayyip Erdoğan had withdrawn TL 4 billion ($1.8 billion), or some 20 percent of the bank’s total deposits, because the bank’s founders include sympathizers of cleric Fethullah Gülen, a former-ally-turned-critic of Erdoğan.

Bank Asya said it had weathered the mass withdrawals and was not at risk. The government has declined to comment. Media speculated the withdrawals were part of an orchestrated backlash against a government corruption investigation, blamed on Gülen, and which poses one of the biggest challenges to Erdoğan’s 11-year rule.

 

Source: Cihan , March 29, 2014

Tags: | | |


Related News

Turks Fleeing a Crackdown Find Haven in Albania

Dozens of Turks at risk at home from their affiliation with the man accused of mounting a failed coup against President Recep Tayyip Erdogan have found haven in Albania. But ‘brotherly’ ties between Ankara and Tirana keep them on their toes.

Government as a black propaganda machine

In an effort to distract public opinion from the graft probe and the alleged involvement of the prime minister and his inner circle in corruption, Erdoğan has been conducting psychological warfare. Considering the Hizmet movement responsible as the force behind the investigation, Erdoğan declared the movement an enemy.

Gülen-linked journalists organization voices concern over profiling claims

The Journalists and Writers Foundation (GYV), one of the most prominent institutions affiliated with Islamic scholar Fethullah Gülen, released a statement expressing its concerns over the government’s claimed profiling of citizens, civic groups and public employees. “It is worrisome to witness developments that echo the said “National Security Board decision, such as the plan to ban prep schools, the profiling of public employees or the purging of bureaucrats who are affiliated with certain communities,” the statement published on the institution’s website said.

For first time, Fethullah Gülen curses purge of police officials in emotional speech

Fethullah Gülen has cursed those responsible for a purge of police officials involved in a corruption investigation. Turkish PM Tayyip Erdoğan has called the detention of scores of people seen as close to the government a “dirty operation” aimed at undermining his rule. Erdoğan has refrained from naming Gülen as the hand behind the investigation and he referred to an “illegal gang within the state” and systematically purged officials, including journalists in public broadcasters.

EU report expresses concern about purge against Gülen movement

The progress report on Turkey that was issued on Wednesday by the European Commission expressed concern over the Turkish government’s purge against Gülen movement members, saying “any allegation of wrongdoing needs to be examined with due process, transparent procedures, and the right of every individual to a fair trial or equitable administrative process should be safeguarded.”

Report reveals closure of prep schools against Constitution

A recently released report by a think tank based in İstanbul has revealed that the controversial law shutting down Turkey’s private prep schools or “dershanes” includes clauses that violate the Turkish Constitution.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Extradite Gülen? Really?

Türksat removes Zaman, 3 others from ad list

Imam Sytari praises Gulen as a global thinker

Rebecca Harms: Working in Gülen-linked educational institutions not a crime

Top court annuls controversial law on prep school closure

Hizmet, forming a party and capturing the state!

Austrian President Fischer receives Turkish Language Olympiads team

Copyright 2026 Hizmet News