Bank Asya shares surge after Turkish election results
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.
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The last refuge of losers: deporting a journalist
İHSAN YILMAZ I am sure most of our readers know my Today’s Zaman colleague Mahir Zeynalov better than they know me. He is a very accomplished Twitter user. His Turkish twitter account has 57,000 followers and the English one has 87,000 followers. Last year, he was chosen as one of the 10 most effective twitter […]
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PM Erdoğan also slammed me for my questions on Uludere, says journalist
Ahmet Dönmez, a leading correspondent based in Ankara with the Zaman daily who was sharply rebuked by Prime Minister Recep Tayyip Erdoğan after asking him a question about recent allegations of corruption during a press conference on Feb. 12 and who was proclaimed both a national hero and a traitor on social media outlets shortly thereafter, says that he was also reproached by Erdoğan once before and that this is indicative of the state of journalism in Turkey.
This is too much! [About the Lies and Slanders directed to Gulen movement]
Prime minister said during the fourth ordinary general meeting of the Turkish Confederation of Businessmen and Industrialists (TUSKON) in March of 2012:
“You are not backed by dark forces. You are not backed by the mafia, gangs, junta regimes. You are not backed by the bankers in Galata. You did not take advantage of the sources of the Treasury or public banks. You did not act according to an ideology. You did not surrender to the pressures and roadblocks. You only trusted in the people. Because you only relied on people, you are great and make this country great.”
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