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

Canberra followers of Fethullah Gulen afraid to return to Turkey

Despite having recently become an Australian citizen, Mr Erdogan fears if he returned to Turkey at the moment he would be arrested as soon as he stepped off the plane. He has friends in Turkey who have been stripped of their livelihoods and forced to go into hiding as President Recep Tayyip Erdogan cracks down on “enemies of the state”.

The Shadow Politics of Shadow Education

It is no secret that Prime Minister Recep Tayyip Erdogan has grown wary of the so-called Gulen movement, a faith-based network centered on the charismatic preacher Fethullah Gulen that promotes a mild and modern understanding of Islam. Started in the 1960s, it now runs or influences, through its adherents, a large network of businesses, think tanks, newspapers and television stations — as well as a successful chain of tutorial colleges and private schools.

Why Is Turkey Targeting Hizmet? Questions about Erdoğan’s Post-Coup Crackdown

In May 2009, I received an award at the International Turkish Olympiad. The event was sponsored and organized by members of the Hizmet movement and most of the performers were students of Hizmet schools abroad. When I, together with a handful of other recipients, mounted the stage to accept our awards, there to shake our hands was the smiling then prime minister of Turkey, Recep Tayyib Erdoğan.

Students give International Turkish Olympiad a moving sendoff

İPEK ÜZÜM, İSTANBUL The 11th International Turkish Olympiad, a competition in which Turkish speakers from around the globe recite poetry, write essays and sing songs, wrapped up on Sunday with a ceremony at İstanbul’s Atatürk Olympic Stadium. Nearly 250,000 people attended the event. Students from 140 countries participated in this year’s 16-day Olympiad, fascinating local […]

‘My 5-month old son is slowly going blind in prison,’ says jailed mother

Betül Selçuk, a physics teacher who has been held in pretrial detention for almost 11 months over alleged links to the Gülen movement, has told her lawyer that her 5-month-old son, Mehmet Selim, is slowly going blind in prison due to overheating and unhygienic conditions.

Hatred-inciting discourses and the debate on ‘genocide and crime against humanity’

Speaking to reporters on April 29 during his return from an official visit to Kuwait, President Erdoğan made these much-debated remarks: “Those belonging to this organization [Hizmet movement], from top to bottom, should certainly pay a price. They will either respect state authority or WILL PERISH.”

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

Education Association Defends Zaman University

Saudi Scholar: Turkish gov’t must give up ‘terrorist’ slander against Gülen

Gulen suspect testifies before US Congress on recent coup attempt

The businessman who sits on his cell phone to avoid wiretapping

Bolu municipality builds road inside Hizmet affiliated Fatih College’s garden

Fethullah Gülen’s message to conference on “Mutual Understanding” in Ethiopia

Erdoğan media’s accusations against Gülen and Hizmet

Copyright 2026 Hizmet News