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

In controversial move Parliament votes to shut down prep schools

The removal of prep schools, however, remains an unsettled dispute, with opponents to the bill saying that without eliminating standardized testing for university entrance, the move will only serve to hamper the poorer high school students’ plans to attend universities, as socioeconomic disparity shows itself in exam results.

Zaman launches satirical magazine, defying pressure with humor

The Zaman daily, which has been under intense government pressure that culminated recently with the detention of its editor-in-chief in a government-backed operation on Dec. 14, 2014, is launching a satirical magazine Monday, in an apparent move to respond to the pressure with humor.

Toward a constitutional crisis [in Turkey]

If the government continues to give the impression that it is trying to stop the biggest-ever corruption investigation in the country, Gezi may repeat itself. It is clear that this may harm not only the AK Party, but also the Hizmet movement and Turkey. Only the AK Party can stop this from taking place by convincing people that it is not interfering with the judiciary and that it is fully against corruption.

Arresting police to make Erdoğan happy

It is no secret that under the direction of Prime Minister Recep Tayyip Erdoğan police officers who conducted graft operations against his close associates have been detained.

Right to dissent in Turkey

The primary reason why members of Hizmet (Service), a faith-based social movement inspired by Islamic scholar Fethullah Gülen, have been attacked, vilified and stigmatized by a government that is dominated by overzealous political Islamists and pro-Iranian sympathizers is that Gülen is standing up to the increasingly authoritarian powers of Erdoğan, who has seized control of the republic’s institutions including the judiciary, leading to increased polarization and tension in Turkish society.

From Islamophobia to ‘Hizmet-phobia’

An important person who was praising an intellectual in Northwest Africa said, “I wish we [Turkey] had such scholars with far-reaching foresight.” He was right, because the intellectual that he mentioned provides an excellent example for others in his works and lifestyle. But he was also wrong in a sense, because we have several scholars […]

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

91-year-old philanthropist targeted in witch-hunt operation in Erzurum passes away

Erdogan regime’s defamation of Hizmet at full throttle – UK-based academic denies recent allegations

Erdoğan isolates himself in power

Hizmet movement in the spotlight at MESA 2012

Turkish charity Kimse Yok Mu represents Turkey at UN summit

Medialog calls for law against hate speech and crime [in Turkey]

Burc Schools achieve 13 medals in AMC 8

Copyright 2026 Hizmet News