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

‘Parallel’ lies won’t patch giant tear, Gülen tells government

Turkish Islamic Scholar Fethullah Gülen has decried recent claims by the government and the president that his followers are behind recent violent street protests in Turkey, indicating that the government is attempting to patch up a “giant tear” it has made with these claims in an effort he said is bound to fail.

Secretary Tillerson: Evidence against Gulen provided by Turkey inadequate, while voluminous

Mr Gulen denies any role in the failed coup in July, and US officials have privately said the evidence provided by Turkey has been inadequate, while voluminous. Prime Minister Binali Yildirim recently described the delay as a joke on Turkey.

Kimse Yok Mu meets Syrian refugees’ needs through sister families

CİHAN ACAR, ŞANLIURFA Some of the urgent needs of Syrian refugees who have being sheltering in the southeastern region of Turkey since they fled from the intensifying violence in Syria are being met by the “sister family” project organized by the Kimse Yok Mu (Is Anybody There) charity foundation. Syrian refugees in Turkey, whose numbers […]

Police chief request promotion for taking part in ‘parallel’ witch-hunt

Eskişehir Deputy Police Chief Şakir Engin Korkmaz has filed a letter requesting a sanction banning his promotion be lifted on grounds that he had taken part in the ongoing operation against the so-called parallel state, which has been described as a witch hunt.

The Gülen community and the AKP

TAHA AKYOL The Journalists and Writers Foundation (GYV), which is in line with Fethullah Gülen, has issued an announcement on relations with the ruling party. It is certain that Gülen made the last retouches on the text himself. Gülen defines the movement shortly as “Hizmet” (translated roughly as “service” in English). I asked those who […]

Turkey’s Ongoing Crackdown: nearly 13,000 police officers suspended for alleged links to the Gulen movement

President Recep Tayyip Erdogan has suspended nearly 13,000 police officers over suspected links to Fethullah Gulen, the U.S.-based cleric Turkey says is responsible for the July 15 coup attempt. Erdogan’s critics believe he has used the coup as an opportunity to crack down on his political opposition. Erdogan was often accused of trying to silence critics.

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

Fethullah Gülen lost his friend Prof. Toktamış Ateş, an academic, writer, and eminent democrat

Teacher detained while visiting relatives during Eid holiday

Ikbal Gürpınar Hospital is connecting Sudanese people to life

Fethullah Gülen: Inspirer of Multi-disciplinary Studies

17th TUSKON trade summit sees 25,000 B2B meetings

TUSKON: Media raids discourage foreign investors

‘Don’t link Thai schools with terrorists’

Copyright 2026 Hizmet News