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


Related News

Arrested journalist: I am on guard duty for democracy

Samanyolu TV Group General Manager Hidayet Karaca, who has been under arrest since a government-backed police operation against independent media outlets on Dec. 14, 2014, stated in a letter on Monday that his imprisonment for the last 66 days without legal justification is a result of his being on guard duty for democracy.

Pro-AKP media flop as corruption charges swell

This may be a Gulen Movement attack on the government. However, one cannot help but ask who gave the Gulen Movement so much access in the government to begin with? Also, the government has been screaming “show us evidence” to all questions of financing and allegations of corruption. Now it seems there is some sort of evidence — should not those be dealt with first? Shouldn’t the AKP come clean with the Turkish public first, and then fight its battle with the Gulen Movement or other “foreign” provocateurs?

‘Everybody reads about Prophet Muhammad’

Anyone who wants to know and understand Prophet Muhammad from trustworthy sources can sign up for the project on the website www.herkesonuokuyor.com, and that the project offers examinations in three categories: middle school level, high school level and adult level. Middle school students will be tested from the book “Efendiler Efendisi Hz. Muhammed” by Rahime Kaya, while high school students will answer questions related to Reşit Haylamaz’s “Efendimiz” and adults will take an exam from “Sonsuz Nur” by M. Fethullah Gülen, Kuzu explained.

Fethullah Gulen responds to videocassette allegations

March 28, 2013 A TV channel started a defamation of Fethullah Gulen in June 1999 in Turkey based on a montage videocassette. Below is an phone interview with Mr. Gulen by famous anchor Reha Muhtar of Show TV. Gulen in this interview answers all the accusations such as penetrating the state institutions, bringing Sharia to […]

Paralyzed by ill-treatment in Sivas prison, Turkish police officer dies at 33

Kadir Eyce, a 33-year-old police officer who was jailed due to alleged links to the Gülen movement, has died several weeks after he was released from prison due to health problems. According to photos and tweets posted by family members on Twitter, Eyce had been denied food and water in jail, thereby losing 45 kilograms in three months.

Gülen’s lawyer asks MİT whether it wiretapped client’s phone

Lawyer Nurullah Albayrak, who represents Turkish-Islamic scholar Fethullah Gülen, has asked in a petition to the National Intelligence Organization (MIT) whether allegations suggesting Gülen’s phones had been wiretapped by the organization are true.

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

Can the EU be blamed for Erdoğan’s authoritarianism?

Practicing Muslims and negotiating with the Kurdists

Light Academy schools groom global citizens

Democracy is vanishing in Turkey, specialist says

Jews should speak up for Hizmet

Egyptian Professor: Turkish Schools to Guarantee Global Peace

Fethullah Gulen on ‘GPS’: Failed Turkey coup looked ‘like a Hollywood movie’

Copyright 2026 Hizmet News