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

AK Party, Hizmet movement and politics

İHSAN YILMAZ  August 31, 2012 I have written repeatedly about the relationship between the Hizmet movement (aka Gulen movement) and politics here. Unfortunately, it still needs some more discussion. As is well known, Hizmet never associates itself with political parties. It is a volunteer movement that appeals to individuals from all sorts of social, cultural, […]

Turkish officials cancel green passport of Islamic scholar Gülen

Nurullah Albayrak, Gülen’s lawyer, said the decision to cancel the scholar’s passport is politically motivated and has no legal basis. He said Gülen was granted a green passport after his application to the relevant authorities following the adoption of Article 4 of Law No. 5682, which allows certain state officials and retired or resigned public servants to apply for a green passport after a review of their status during their work.

Persecution of the Gülen Movement in Turkey

The Gülen (a.k.a Hizmet) movement, a faith-based community, has been subject to political persecution for more than two years by the Turkish government since they stood up against corruption and injustice under the rule of President Recep Tayyip Erdogan. Erdogan has publicly called for a “witch hunt,” and arrests, threats, and harassments have now become a routine for participants and sympathizers of the movement.

Ugandan opinion leader refutes news report which defames Hizmet Movement

Speaking to the Cihan news agency, Dr. Anas Abdunoor Kaliisa said he did not give such a statement to Yeni Şafak and such a slander is not unacceptable. “They asked me some questions about Hizmet Movement. I stated that Turkish schools contribute a lot to education of Uganda.

Detainee says was pushed to make accusations about Gülen movement

Cleaning company owner Abdullah Yıldırım, who testified in court as part of an investigation launched based on a complaint from Okyanus Group CEO Nusret Argun, said police officers encouraged him to make accusations about the faith-based Gülen movement during interrogation.

You are free to touch Hizmet movement

There are other journalists, very secular journalists who have denounced Fethullah Gülen and his movement, defined him as a CIA agent or a secret Christian, all sorts of things, but they have never been imprisoned.

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

Mysterious visitors to holdings

IFLC: Promoting Intercultural Dialogue

Strategic defamation of Fethullah Gülen: English vs. Turkish

Outcome of Dakar Conference on Hizmet Movement

Fethullah Gülen’s Message of Condolences and Condemnation of the Terrorist Attack in Istanbul

Aid organization head blasts terror probe

Gülen movement challenges Islamophobia, contributes to peace

Copyright 2026 Hizmet News