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

You cannot fool all the people all the time

In a panic to save its future, the Erdoğan government calling it a “parallel state,” an “illegal organization,” a “criminal gang,” a “web of treason” and “raving Hashashins” is attempting to collectively punish the Hizmet movement, whose establishments have significantly contributed to the betterment of the country in the fields of education, business, democratization, social solidarity and international relations.

Terrorist organization seeks to fill void in Southeast after closure of prep schools

Terrorist organizations are getting ready to fill the void in the education system in Turkey’s Kurdish-dominated Southeast following the government’s decision to shut down prep schools and study centers, the Bugün daily said on Monday. “The [terrorist Kurdistan Workers Party] PKK is increasing the number of Education Support Houses [EDEV] in the eastern and southeastern […]

Erdoğan’s former speechwriter: Call for Gülen’s return was tactical move

President Recep Tayyip Erdoğan’s former speechwriter and current Justice and Development Party (AK Party) deputy Aydın Ünal wrote on Thursday that Erdoğan has never liked Islamic scholar Fethullah Gülen and that his call for Gülen to return to Turkey in 2012 was a political maneuver.

Religious leader: I was told to blame Gülen movement for police banning my group meeting

Alparslan Kuytul, president of the Furkan Foundation and leader of a religious group critical of the Turkish government, said he was advised to put the blame on the faith-based Gülen movement for a police intervention in a meeting of his followers in April and that the government would ultimately clear the way for his group to operate freely.

Ambassadors uneasy over Erdoğan’s orders concerning graft probe

Turkey’s ambassadors have expressed displeasure over Prime Minister Recep Tayyip Erdoğan’s remarks that called on them to “tell the truth” to their foreign interlocutors, saying that defending the government against corruption allegations in not the ambassadors’ business.

Kimse Yok Mu sends next party of aid to Syrian refugees

Turkish government, nongovernmental organizations and public are doing their best to show the greatest hospitality to war-weary Syrian refugees across the country. Kimse Yok Mu’s Bursa branch also made its best to contribute these relief works and the organization sent the next party of aid worth at TL 300,000 (USD 150,000) on Thursday.

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

Scores of students march to Pristina airport after learning Gülen teachers not yet deported

Turkey Faces International Trouble for Persecuting Gulen’s Schools

The latest step by AKP-Gov’t witch-hunt against Hizmet Movement

Erdoğan Is Destroying Turkey’s Hopes for Democracy

Pro-gov’t troll says sympathizers of Gülen movement should be ‘wiped out’

Turkey could find itself facing hefty legal bill for mass purges

Kimse Yok Mu volunteer physicians bring light to eyes in Darfur

Copyright 2026 Hizmet News