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.
Abant meeting calls for commitment to EU process, new constitution
SEVGİ AKARÇEŞME, ABANT/BOLU/TURKEY Participants of the three-day-long Abant Platform meeting have emphasized the need to finish drafting a new constitution, stressed the importance of a state that is equidistant to all beliefs and underlined the significance of reviving Turkey’s membership talks with the European Union. Long a byword for describing a gathering that attracts a […]
Opposing the majority
Turkish Prime Minister Recep Tayyip Erdoğan has said his ruling Justice and Development Party (AK Party) will not back down from its decision to close prep schools, despite ongoing discussion on the matter and deepening polarization over the government’s move. Only 21 percent of people polled support the government’s move, according to a survey conducted by Mak Danışmanlık (Mak Consultancy).
Prominent Alevi leader welcomes Gülen’s remarks on bridge controversy
HÜSEYİN AYDIN, İSTANBUL Fermani Altun, head of the World Ehl-i Beyt Foundation, a leading Alevi association, has welcomed Islamic scholar Fethullah Gülen’s recent remarks in which he stressed Alevi-Sunni brotherhood amidst an ongoing debate over the naming of a new bridge after an Ottoman sultan considered controversial by Alevis. In a speech broadcast on herkul.org on Wednesday, […]
A major scandal by the Mukhabarat state
The voice recordings of four phone calls made to Fethullah Gülen were posted on the Internet at midnight on Monday. As you know, Gülen lives in the US. Those who phoned him are some executives from institutions established and run by the people who are inspired by the Hizmet movement in Turkey. The calls do not have any incriminating content. Rather, one of these unlawfully wiretapped recordings exposes how the Hizmet movement was targeted in a conspiracy by circles close to the government.
Arınç says Gülen’s offer to hand over prep schools ‘sacrifice’
Turkish Deputy PM Bülent Arınç has described the offer of Turkish Islamic scholar Fethullah Gülen to hand over prep school management to the state an example of “sacrifice” and promised that the issue of prep schools will be resolved in a way that pleases everyone. “God knows that we don’t have an ambition to manage [these prep schools]; our desire is that these services don’t become the causalities of a disagreement,” Gülen reportedly said.
Kaçmaz family deportation case: Lahore High Court seeks record of Civil Aviation Authority
The Lahore High Court (LHC) sought record of Civil Aviation Authority (CAA) of planes arrived and departed for Turkey from Allama Iqbal International Airport on 13-14 October, on Tuesday. The record is sought to investigate the forced deportation of Kacmaz family, despite them being under UN protection.
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
Parents Reject Decision to Shut Down Gülen-inspired Schools in Morocco
GYV head dismisses ‘parallel state’ allegations against Hizmet
A new Turkish Cultural Center launched in Kiev
Kimse Yok Mu to provide meals to over 1 mln in Ramadan
Turkish Physicians heal Somali sufferers
Al-Azhar has examined and approved all the works of Mr. Gulen
