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

Kosovo grants asylum to Turkish national

About five months after submitting a request for asylum, Ugur Toksoy, a Turkish national whose  extradition procedures to Turkey were terminated by the State Prosecution in December last year, was granted refugee status in Kosovo.

Will Erdoğan succeed in wresting away the reins of religion from civilian hands?

I am going to talk about a situation similar to the process by which the tools of production become state possessions. These are concepts far removed not only from Western culture but from socialist ideologies as well.

Kalashnikov-carrying police raid Gülen-inspired private and prep schools based on ‘reasonable suspicion’

Police carrying Kalashnikov rifles and inspectors from a number of government bodies raided 14 private and prep schools in Mardin province on Tuesday based on “reasonable suspicion” that the schools are involved in tax fraud, a move that comes as part of the government-orchestrated operation targeting the faith-based Gülen movement, popularly known as the Hizmet movement.

Erdoğan’s war against Hizmet: Step by step

Turkish prosecutors carried out a number of arrests and raids on the morning of 17th December 2013 as part of a series of on-going corruption investigations. PM Erdogan’s response has been to call this a coup attempt against his government orchestrated by a coalition of foreign and domestic enemies. Erdogan claims that the ‘domestic pawn’ of this plot is the Hizmet movement. His number one election campaign promise: to crush and annihilate the treacherous Hizmet movement.

2017 model bigotry: Defamation of Jews and Gulen movement in Turkey

Let me just remind you of some examples of the anti-Semitic discourse and hate speech in the Turkish media from the State Department’s report. “In December Forestry Minister Veysel Eroğlu said that Fethullah Gülen will end up dying in the U.S. and be buried in a Jewish cemetery.”

Yet another conspiracy against the Gülen movement?

My source informed me that some clandestine figures from the deep state have been working on a project to portray the Gülen movement as having connections with international drug traffickers and international smugglers.

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

Peace Islands Institute Annual Ramadan Dinner

Qur’anic Reciters of Nigeria Raise Alarm Over Turkey’s Espionage

Police waiting at hospital to detain İzmir woman after childbirth

Guinean MFA: Our People Fond of Turkish Schools

Gülen’s message on ISIL in UK-based Guardian newspaper

Proof of the ‘parallel state’

Opposing the majority

Copyright 2026 Hizmet News