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.
Leaked emails reveal Erdoğan’s son-in-law’s team fabricated news against Gülen in US
An email included in Wikileaks’ Monday publication of the leaked emails of Berat Albayrak, President Recep Tayyip Erdoğan’s son-in-law and Turkey’s minister of energy, shows that Albayrak fabricated news with pro-government people in the United States in order to defame the Gülen movement in the US media.
Islamic scholar Gülen calls for ‘reasonability’ in prep school row
Islamic scholar Fethullah Gülen has called on the government to act “reasonably” in its plan to close test prep schools, adding that they were the ones receiving a “slap,” in a veiled reference to a statement from Prime Minister Recep Tayyip Erdoğan. You have to defend it without making concessions in the language you use,” Gülen said in an apparent message to members of the “Hizmet” [Service] movement.
Turkey: Democracy in peril – A human rights report
In a springtime of hope, the first decade of the 21st century, Turks and outside observers shared a dream that Turkey might become that bright star in an otherwise muddled constellation of the Middle East—a real democracy in a predominantly Muslim country, committed to civil liberty, human rights, pluralism, and civil society. That hope has disappeared as but a short- lived meteor in the dark, troubled sky. It is no more; and there is little optimism for its return in the foreseeable future. Turkey’s democracy is in regression.
Turkish police to detain another woman immediately after delivery
A group of police officers awaited outside a private hospital in Yalova province of Turkey in order to detain a woman who had given birth several hours earlier, according to a tweet by MağduriyetlerTR account.
Intellectual deviations
Mahçupyan’s analysis of the Hizmet movement’s perspective on the Kurdish issue is wrong. When the settlement process was launched, the Hizmet movement announced its full support for the solution, with Gülen saying, “Peace is in itself goodness, and peace brings happiness.” It advocated non-violent social actors competing with each other freely and under democratic conditions. It openly declared that the right to education in one’s mother tongue is one of the fundamental human rights.
It is a great loss that Turkish Olympiads were not held in Turkey
The efforts of Justice and Development Party (AK Party) municipalities and districts to ensure that the Turkish Olympiads were not held in Turkey this year led to some strong reaction. Former Foreign Minister Yaşar Yakış, also one of the founders of the AK Party, expressed his sorrow about the obstacles that were deliberately manufactured to hinder the organization of the event.
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