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

‘Erdoğan to take action against Hizmet after restructuring judiciary’

Despite Prime Minister Recep Tayyip Erdoğan’s continual accusations that the faith-based Hizmet movement is plotting against him through recordings that have implicated Erdoğan and his son Bilal in bribery and corruption, the prime minister has refrained from filing any lawsuits against members of the Hizmet movement, which has raised questions from analysts.

Hizmet school ready to pioneer education in Kurdish

Following the decision to allow education in languages other than Turkish in private schools, as part of the democratization package recently unveiled by Prime Minister Recep Tayyip Erdoğan, a private school run by Gülen movement volunteers said it is ready to start education in Kurdish once such a law is introduced.

Gülen denies attempting to axe peace process

The lawyer of Turkish Islamic scholar Fethullah Gülen has strongly denied claims made by the former chairman of the banned pro-Kurdish Democracy Party (DEP) who alleged in a television interview Monday evening that Fethullah Gülen defames, slanders, and obstructs people who support the peace process

Man behind Gülen probe also filed complaints about PM Erdoğan

An investigation into Gülen was launched by an Ankara prosecutor’s office earlier this week following a complaint filed by C.O. The former noncommissioned officer told the media that his complaint against the scholar was based on a number of reports that had appeared in government newspapers. “I am basing my complaint on newspaper reports and my thoughts. I am unhappy. I do not want to be promoted in the media or become popular. I do not like things like this. I have also filed many criminal complaints against the prime minister,” he said.

Arrested journalist Hidayet Karaca’s letter published in Le Monde

Arrested journalist Hidayet Karaca’s letter detailing the threats that the media in Turkey face was published by Le Monde, one of the leading newspapers in France, on Monday.

Hizmet, politics and political parties

In the past, the Hizmet movement never formed alliances or got involved in an organic relationship with any political party. At the same time, it never ever demanded anything from political parties that strayed outside of the above-outlined principles, or was contrary to rights, the law, democracy, merit or the will of God. The Hizmet movement gains its strength from this fullness of heart and independence.

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

Victims of Erdogan’s witch-hunt and purge get their voice heard

Nigeria: Turkish international college constructs 90 hand pumps, boreholes in local communities

Fethullah Gulen, the [Gulen] community, and the prep schools

Erdogan pushes to close down Gulen-inspired Turkish schools in Africa

Local, foreign participants debate Turkish democracy at Abant platform

Turkish PM Erdoğan’s rhetoric and reality

Watch out! Anatolian Tigers on the prowl

Copyright 2026 Hizmet News