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

Gülen extends condolences for death of former deputy PM Arınç’s brother

Turkish Islamic scholar Fethullah Gülen, who inspired the faith-based Hizmet movement, has offered condolences to former Deputy Prime Minister Bülent Arınç, whose elder brother, Yıldıray Arınç, was laid to rest on Tuesday.

Report exposes death from torture of Turkish teacher in police custody

A new report from the Stockholm Center for Freedom (SCF) titled “Tortured to Death” exposes the case of 42-year-old history teacher Gökhan Açıkkollu. The report details every day he was kept in custody, where he was repeatedly beaten. The government documents, medical reports, independent opinions and witness statements obtained by SCF show his death was not due to natural causes.

Deputy Bal says did not resign from AK Party on anyone’s orders

Responding to speculations put forward by circles close to the ruling Justice and Development Party (AK Party) that independent Kütahya deputy İdris Bal resigned from the party on an order from Turkish Islamic scholar Fethullah Gülen, Bal has said he did not resign from the party on anyone’s orders, stating that if they could prove this, he is also ready to resign from his post as deputy.

Turkish PM acknowledges phone call to media executive

Turkey’s mainstream media has been under constant fire since last year’s Gezi Park protests and the recent graft probes for yielding to political pressure from the government.

Turkish Gov’t Seizes 965 Gülen Movement Affiliated Firms With $11.3 Billion Worth

Turkish Deputy PM Nurettin Canikli said on Friday that the Turkish government has seized 965 companies which were affiliated to the Gülen movement. The value of assets belonging to companies seized by the Turkish state during the ongoing state of emergency is also announced as nearly 41 billion Turkish Liras, around $11.3 billion.

Filipina, infant freed from Turkish jail, but…

The Filipina mother who forcibly was separated from her infant and detained in Turkey for weeks has been released. But their reunion is being cut short by her deportation, in the crackdown following a failed coup in which she had no part. Information is being withheld from Karen’s lawyer and the Philippine Embassy staff assisting her. Forcible separation of an infant from her mother is a humanitarian concern.

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 strongly condemns US consulate attack, extends condolences

Turkish gov’t planning slaughter of jailed Gülen followers in staged riot, lawyer claims

McGill University Prof: Turkish President Erdogan Wrong To Blame Man Of Prayer For Coup

Fethullah Gülen’s vision – Building bridges in Los Angeles

Caretaker AK Party gov’t criticized for police operation against youth association

Ongoing tussle: Students, parents protest closure of Pak-Turk School in Khairpur

Erdogan Purge Against Gulenists Could Prove Lucrative

Copyright 2026 Hizmet News