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.
Bolu municipality builds road inside Hizmet affiliated Fatih College’s garden
The Bolu Municipality, Turkey, having previously closed down two schools belonging to businesspeople affiliated with the faith-based Hizmet movement in early July, has now constructed a road inside the garden of Fatih College, a high school, despite the fact that the school is surrounded by empty plots of land and no residential area exists around the school.
Erdogan purge far worse than the McCarthy era
What is happening in Turkey right now makes the McCarthy era in the US look like a picnic. When communists were targeted under McCarthyism they were blacklisted; hundreds were jailed, and many were compelled to leave the country. In Turkey it is not communists, but Gulenists. Anyone remotely associated with the Gulen movement is being rounded up and jailed – not by the hundreds, but by the tens of thousands.
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Islamic scholar Fethullah Gülen, who has inspired a worldwide network active in education, charity and outreach, has described large-scale slander, pressure and oppression his Hizmet movement currently faces as worse than that seen during anti-democratic military coup regimes witnessed by Turkey.
German minister says state not investigating Gulenists
The German authorities are not investigating Gulenists, the country’s justice minister said Tuesday, much to the frustration of Turkey which has asked that action be taken against the shadowy group.
UNESCO Global Monitoring Report and Turkish Schools
The Turkish schools around the world offers practical perspectives and practices in redefining “the human” and his needs, reintegrating him into society, overcoming the physical and methodological obstacles to education and leading a robust performance in the path to global peace. Although the report correlates the education crisis at first glance with poverty and social background, education remains as the number-one problem, in a varying extent, in the developed countries as well. What needs to be done is to convey how the Turkish schools are tackling or minimizing many educational problems and, finally, to find out what aspects of the schools’ methods can apply to public schools.
Gov’t inspects Gülen-inspired schools while ignoring run-down state schools
The poor condition of state schools in Turkey was exposed by Today’s Zaman reporters on Monday, who found that despite the government expending considerable resources investigating and raiding private educational institutions sympathetic to the Gülen movement, many state schools fail to meet even basic health and safety standards.
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