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media reported that state-owned companies and institutional depositors loyal to Prime Minister Recep Tayyip Erdoğan had withdrawn TL 4 billion ($1.8 billion), or some 20 percent of the bank’s total deposits, because the bank’s founders include sympathizers of cleric Fethullah Gülen, a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

Call for paper for “International Family Policy Conference”

The Journalists and Writers Foundation is organizing the third international family conference, “International Family Policies”, in order to analyze different kind of legal formulations to protect family as an “institution” across different countries. Conference aims to prioritize policy-oriented articles together with academic and descriptive ones.

Corruption, Stigmatization, and Innocence

Unfortunately, the Hizmet Movement as one of the leading civilian movements contributing to intercultural dialogue and peace in the world has been labeled as one of the players to destabilize Turkey by the pro-government press too.

Don’t draw us into your family fight: Washington

The United States has told Ankara it has no any intention of getting involved into what it calls “a family fight,” denying conspiracy theories suggesting Washington’s role in the ongoing struggle between the government and the powerful Gülen community that has exploded with a new corruption probe. “Please don’t draw us into your family fight here. We don’t want one side or the other to feed this conspiracy idea that we are against the prime minister or against Fethullah Gülen Hocaefendi,”

Erdoğan…a factionist PM?

Now that the prime minister is battling a corruption scandal for which he is blaming the Hizmet movement, his new victims are Fethullah Gülen’s followers, who he calls “traitors.”

Fethullah Gulen, the [Gulen] community, and the prep schools

It is no secret that my bonds of affection with the wise religious leader Fethullah Gulen and his movement go back more than twenty years. I trust that Hocaefendi, with his endless sense of fairness, is aware of this situation. He feels offended firstly because the government signed the National Security Council’s brief without hesitation, and secondly because it has profiled [both him and the movement]. In any case, resisting the closure of the movement’s prep schools is the same as resisting an authoritarian course of events!

Ghana delegation explores business in Turkey

A fifteen Ghanaian business delegation is in Izmir, Turkey, to participate in an international business summit dubbed, “Turkey-Midwest Africa Trade Bridge.”

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

Academic Thought Platform holds first of its ‘Capital Gatherings’

What we learned from the operation

Conference endorses Gülen’s ideas as guides for Nigerian education system

Kimse Yok Mu opens school in Afghanistan

Dutch, German intelligence agencies uncover Turkish kidnapping, murder plots

Doctors In Turkey discouraged from writing up reports on abuse, torture

Fethullah Gülen’s Message of Condemnation and Condolences for Terror Attack in Vienna

Copyright 2026 Hizmet News