Bank Asya shares surge after Turkish election results

Bank Asya
Bank Asya


Date posted: June 10, 2015

The AK Party’s failure to secure enough votes to form the government reflects on the stock market, with the politically-seized Bank Asya’s shares observing a 10.75 percent increase at opening on Monday amidst an overall drop in Borsa Istanbul.

Bank Asya had long been subject to political attacks and repeated demands by President Erdoğan to be taken over despite the fact that the publicly traded Islamic lender had one of the best capital adequacy ratios of the sector. Defamatory rumors published by pro-government press have been challenged, but unpunished.

As a result, in late May Turkey’s Banking Regulation and Supervision Agency (BDDK) seized the publicly-traded Islamic bank, placing it under the Savings Deposit Insurance Fund (TMSF), causing mass outrage by financial markets and banking experts.

The controversial move came months after the BDDK took control over its management after a long government-orchestrated campaign against it.

Bank Asya’s shareholders’ lawyers have voiced a strong demand for the return of the management to its rightful owners, and have applied to the courts to take action.

Source: BGNNews , June 8, 2015

Tags: | | | |


Related News

Gülen calls on corrupt politicians to confess their sins, beg forgiveness

Turkish intellectual and Muslim scholar Fethullah Gülen called on senior officials in Turkey on Friday to repent for their sins and lies made to scapegoat others and avoid the blame for their own corruption.

Turkey Is No Longer a Reliable Ally

The U.S. and Turkey have faced difficult days before, such as after Turkey’s 1974 invasion of Cyprus and the 2003 American invasion of Iraq, yet American and Turkish leaders managed to find their way back. This time will be different. The failed coup was a clarifying moment. Ankara and Washington don’t share values or interests.

False reports on Bank Asya breach laws

Earlier reports in the Turkish media had claimed that the government had mulled over a comprehensive investigation into Bank Asya following an ongoing corruption and bribery case. The papers cited the Hizmet movement — with which Bank Asya is affiliated — as the hand behind the police operations into persons close to the ruling Justice and Development Party (AK Party). The same reports implied a retaliatory attack on Bank Asya over alleged abuses within the bank.

Romanian appeals court denies Turkey’s request for extradition of Erdoğan critic

The Bucharest Court of Appeal has denied the extradition of educator Fatih Gürsoy on dubious terrorism charges brought by the government of President Recep Tayyip Erdoğan and underlined the fact that the Lumina Educational Institutions “operates according to the Romanian law.”

Erdogan Changes Tactics On Attempt To Shut Turkish Schools

President Tayyip Erdogan of Turkey has changed tactics in his efforts to make foreign governments close schools run by Hizmet Movement associates, otherwise called Turkish schools.

Today’s Zaman offers condolences to families of mine victims

Today’s Zaman also calls on Turkish officials to do their utmost to regulate privately owned and operated mines to ensure the safety of all workers and miners. The tragic incident in the Soma mine once again reveals the need for a stronger inspection of mines including the safety conditions of workers in line with international standards.

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

The Gulen Movement has become Turkey’s most significant export

Gulen factor in Turkey’s turmoil

Disregard call to close Turkish schools – Proprietors tell Nigerian govt

Fethullah Gulen awarded in the Philippines for contribution to peace

Education minister calls on African ambassadors to have Gülen-inspired schools closed

Gulen: Issuance of arrest warrant changes nothing about my views

President Gül opens Turkish-Kazakh school in Astana

Copyright 2026 Hizmet News