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.
Gülen-linked journalists organization voices concern over profiling claims
The Journalists and Writers Foundation (GYV), one of the most prominent institutions affiliated with Islamic scholar Fethullah Gülen, released a statement expressing its concerns over the government’s claimed profiling of citizens, civic groups and public employees. “It is worrisome to witness developments that echo the said “National Security Board decision, such as the plan to ban prep schools, the profiling of public employees or the purging of bureaucrats who are affiliated with certain communities,” the statement published on the institution’s website said.
Bediüzzaman on the Armenian issue
Question: Armenians are dhimmis. How can dhimmis be equal to Muslims? Answer: Let us not see ourselves in a magnifying mirror. We are to be blamed on this issue. We could not protect them as well as we should have; we failed to demonstrate the justice of Sharia. Because of the wrong practices of autocratic regime, we failed to protect their rights within the Sharia framework…
[Political Scandal a la Turca] What is happening in Turkey right at this moment?
Responding to the allegation that the Hizmet community is behind the investigation, and to a broader one suggesting that the Hizmet movement is fighting the AKP government, both Mr. Gülen himself and the Journalists and Writers Foundation (GYV), based in İstanbul, denied any such motivation or involvement. Furthermore, they invited the state authorities to prove those allegations, and take legal action if any evidence is found substantiating them. Mr. Gülen’s lawyer condemned and rejected the allegations as an attempt to divert public attention away from the massive bribery scandal and defame his client.
AK Party gov’t searches for scapegoat for stalled PKK talks
Having failed to make progress on the settlement process, which was supposed to pave the way for the disarming of Kurdish militants and address long-standing Kurdish demands, the Turkish government has now turned its attention to finding a scapegoat on which to place blame for the stalled talks ahead of national elections slated for June 2015.
Turkey’s Intelligentsia Kneels to Erdogan
This selective application of democratic rights by Turkey’s intelligentsia only helps Mr. Erdogan consolidate his power. In their double standards, he finds tacit approval for his purges. Turkey lacks not only sturdy institutions that guarantee a system of checks and balances and the rule of law, but also a critical mass of citizens with the courage and integrity to demand them.
Mother of 5 children abandoned in parking lot released on high bail
A Turkish court on Monday released a housewife, a mother of five whose children were abandoned in a parking lot after her detention, on TL 50,000 bail. This is a high figure in a country where the minimum wage is approximately TL 1,300. The woman will be put behind bars again if she fails to pay the bail within seven days.
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