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

AK Party’s Islamism

Apparently, Erdoğan has sought not only to be unrivaled within Turkey, but also to create a totalitarian country according to his religious mentality using the resources available to him. The corruption investigations remove the veil over the details of this totalitarian project.

Turkish Gov’t Unveils 16 Ways to Identify Gulenists [as Terrorists]

Turkish authorities have finally come up with a detailed set of measures and criteria to identify suspected Gulenists. After its publication and prime minister’s announcement, critics argued that this presents a perfect textbook of fascism as the government justifies its actions, purges on ludicrous charges devoid of a legal base in universal standards and even country’s current laws.

Greater Jakarta: Students, parents protest Embassy’s statement

Students and parents at the Turkish-affiliated Pribadi Bilingual boarding school in Depok, West Java, have filed objections over a recent statement from the Turkish Embassy in Jakarta that referred to the school as having links with a terrorist organization.

Nigeria – Our students should not be victims of Turkey’s high-handedness and authoritarianism

We strongly condemn the arrest, detention and deportation of some Nigerian students from Turkey’s capital city, Istanbul, over the botched coup in the country. The harassment and intimidation of our students by the Turkish Government over a matter that does not concern them is undiplomatic and utterly reprehensible. The Turkish government should not visit the punishment for the alleged actions of its political enemies on innocent Nigerian students.

Starting a witch hunt [against the Hizmet movement]

The discourse Justice and Development Party (AK Party) Chairman and Prime Minister Recep Tayyip Erdoğan relies on to intimidate his opponents has taken on a whole different dimension. The prime minister argues that his election victory in the March 30 local elections gives him the right to combat the Hizmet movement, which he refers to as the “parallel state” or “parallel structure.”

U.S. Not Persuaded to Extradite Fethullah Gulen Over Turkey Coup

Officials aren’t convinced by evidence against Fethullah Gulen, Pennsylvania-based imam who Turkey says masterminded the failed putsch. U.S. officials don’t expect to extradite an imam Turkey blames for masterminding a failed coup because they aren’t convinced by the evidence Ankara has presented so far and are troubled by threatening public statements from Turkish officials, according to people familiar with the discussions.

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

UN and OSCE experts deplore crackdown on journalists and media outlets in Turkey

Dozens detained in gov’t witch-hunt against Gülen movement

Turkey coup attempt: Number of people detained passes 26,000 amid international concern over crackdown

US Sees No Need to Choose Between Partnership With Turkey, Gulen Extradition

Moldovan orphans demand Kimse Yok Mu assistance continue

8.5-month pregnant woman under arrest though baby faces heart, kidney problems

Turkey post-coup purges convulse society

Copyright 2026 Hizmet News