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.
The Gülen community is a movement of volunteers. The real reason for the row is not the community’s attempt to meddle in politics. It is due to its sheer size and public image. As he did with other groups or communities, Erdoğan sought to take full control of the Hizmet movement in an effort to consolidate his power. Following the defeat of the military tutelage, the government saw a convergence of power. However, the Hizmet movement was not a piece of cake which it could swallow easily. The government had previously purged itself of many bureaucrats who are close to the community.
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