Illegal raid against Bank Asya spells disaster for Turkey, says TUSKON head

TUSKON President Rızanur Meral expressed that the illegal state takeover of publicly traded Bank Asya’s management last week has severe implications for the rest of the banking sector, financial markets, and for the entire country and its image abroad.
TUSKON President Rızanur Meral expressed that the illegal state takeover of publicly traded Bank Asya’s management last week has severe implications for the rest of the banking sector, financial markets, and for the entire country and its image abroad.


Date posted: February 10, 2015

“The raid on Bank Asya is a violation of the right of proprietorship and a murders the entrepreneurial spirit,” noted the president of the Confederation of Businessmen and Industrialists of Turkey (TUSKON), Rızanur Meral, in an interview with Bugün TV.

The move by the Savings Deposit Insurance Fund upon orders of the Turkish banking watchdog BDDK had come about after President Recep Tayyip Erdoğan, in his vendetta towards the Hizmet Movement inspired by followers of Islamic Scholar Fetullah Gülen, had publicly attacked the institution. He stated that the bank had failed and called upon the BDDK to take action. The BDDK ordered the removal of the board on the premise that there was a lack of transparency in the ownership structure.

Erdoğan and pro-government media’s stance was widely viewed by critics as a clear violation of capital markets laws and regulation concerning spreading defamatory rumors, in addition to an infringement on the independence of state institutions such as the BDDK.

“In no country can the state illegally take over the management of a bank on the pretext that not enough information on the shareholders was shared,” stated the TUSKON president, adding “Everyone who underwrote this decision against the publicly traded firm will pay a heavy price, for infringing on capital markets laws and regulations. If the courts cannot resolve this issue than the public will suffer. The new management the bank will bear the responsibility should the bank performs worse, under their reign.”

Meral also underlined that the illegal raid damages confidence in the Turkish economy and financial markets, explaining “The stock market is 60% foreign-owned capital. As a result of the raid of Bank Asya, the BİST lost 5% value. In such an environment who would want to invest in Turkey? Then how will we cover the major deficit? Such developments will trigger an increase in the dollar and cause a surge of inflation.”

The TUSKON president also took the ruling Justice and Development Party’s (AK Party) overall governance to the talks, stating “Turkey is drifting away from a free market economy to seclusion. We have generated a lot of enemies in the overseas to the point where there will be no one left we can engage in dialogue with.”

Source: BGNNews , February 10, 2015


Related News

It’s not about a conflict between the government and Hizmet movement

Insanity ripples through the country, the media and the people. If graft or corruption is the prevailing form of life spreading from the state to society, and if this form of life is supported by people, then we are hitting the bottom day by day. A prosecutor can say “We can detain 500 thousand people if necessary” and still hold his post as if he said quite an ordinary thing. Whereas in Europe mental health of such a prosecutor would be called into question and most probably examined.

86-year-old man in 11th month of his arrest on coup charges

Ali Osman Karahan, an 86-year-old Turkish man with walking and speaking difficulties has been kept in an Isparta prison for almost 12 months over alleged links to Turkey’s Gülen group, which Turkish authorities accuse of being behind a failed coup attempt in July of last year.

Gülen offers more explanations of his views on continuing slander

“In a democratic order, if you are not allowed to express your views, then even the minimal requirements of being a democracy are not fulfilled. Imposing a type of rule with reference to religious notions will have serious political and legal repercussions,” Fethullah Gülen said.

Erdoğan gov’t signals change to allow re-trial of officers

At public rallies, Erdoğan has been floating a claim that a gang within the state is attacking his government in the name of corruption. He claimed he has evidence with regard to this group and wanted to expose this evidence soon.
Erdoğan has not offered any evidence so far indicating that such a group acting in violation of the law operates within the judiciary or police force.

Did Erdogan STAGE the coup?

‘Government should be won through a process of free and fair elections, not force,” Gulen said. “I pray to God for Turkey, for Turkish citizens, and for all those currently in Turkey that this situation is resolved peacefully and quickly.’ Gulen sharply rejected any responsibility: ‘As someone who suffered under multiple military coups during the past five decades, it is especially insulting to be accused of having any link to such an attempt.

Dogan: Gulen earned sympathy among Alevis

Speaking of Gulen’s “mosques-cemevi project” proposal, Dogan said, “Gulen is an exceptional intellectual who can identify conspiracies against Alevis and Sunnis.” Cem Foundation President Prof. Izzettin Dogan gave noteworthy statements to the daily BUGUN concerning the recent issues ranging from Fethullah Gulen‘s remarks “Let’s not sacrifice all the bridges to build one. Mosques and cemevis should […]

Latest News

Fethullah Gulen – man of education, peace and dialogue – passes away

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Erdogan possessed by Pharaoh, Herod, Hitler spirits?

Devious Use of International Organizations to Persecute Dissidents Abroad: The Erdogan Case

A “Controlled Coup”: Erdogan’s Contribution to the Autocrats’ Playbook

Why is Turkey’s Erdogan persecuting the Gulen movement?

Purge-victim man sent back to prison over Gulen links despite stage 4 cancer diagnosis

In Case You Missed It

Does Pakistani law allow you to deport Turkish teachers, Nawaz Sharif?

Gulen Movement has been the driving force behind new relationships between Turkey and sub-Saharan African nations

“ISIS — A terrorist group making false representation of Islam,” says Turkish Muslim scholar Fethullah Gülen

A Year After Hurricane Sandy: Climate Change & Disaster Management

Political raids targeting educational institutions a ‘hate crime’

From Islamophobia to ‘Hizmet-phobia’

Canada’s Green Party leader on human rights violations in Turkey: I am entirely horrified

Copyright 2025 Hizmet News