Bank Asya, a leading Turkish financial institution, announced on Sunday that their corporate governance rating had increased in June over its score from last year.
The bank released the figures in an announcement addressed to the Public Disclosure Forum (KAP). According to a recent report prepared by the Capital Markets Board (SPK), Bank Asya’s corporate governance rating increased from 84.20 in June 2013 to 90.85 in June of this year.
The founders of Bank Asya are known for being affiliated with the Hizmet movement, inspired by Islamic scholar Fethullah Gülen. News reports circulated earlier this year indicating the government had attempted to sabotage the bank, as corporations with close ties to Prime Minister Recep Tayyip Erdoğan withdrew upwards of TL 4 billion from their accounts, accounting for nearly one-fifth of the bank’s deposits.
Yes, at one time, there had been rapprochement and mutual support, but reality and history show that such an alliance has long been overstated. The truth is, Erdoğan and Gülen only came together when Erdoğan’s stated goals reflected deeply held beliefs by Gülen. As is often the case, perception is mistaken for reality. Gülen is not Erdoğan’s biggest threat, nor was he his chief ally.
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