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

Kosovo’s Parliament supports commission to probe deportation of six Turks

Kosovo Parliament has on Tuesday voted to establish a commission to investigate how and why six Turkish citizens, suspected of being members of Fetullah Gulen movement, were arrested and deported to Turkey.

Our three-month ordeal in Turkey’s maximum prison -Nigerian students detained over coup saga

Notwithstanding such aims and the benefits to Turkish citizens and others around the globe who enjoy scholarship and the benefits of quality education, all such pro-Gülen educational organisations, including the ones established in Nigeria have been branded as enemies by the Turkish government. “I have never heard that the Turkish schools in Nigeria have done anything illegally since the time they began operation in Nigeria; I attended one of such excellent schools so, I see no reason why the school should be closed,” Mohamed said.

Pro-gov’t troll says sympathizers of Gülen movement should be ‘wiped out’

A pro-government Twitter troll who frequently uses offensive language to insult prominent political and social figures who do not embrace the ruling Justice and Development Party’s (AK Party) ideals and practices has this time called on supporters of the ruling party to kill members of the Gülen movement.

86-year-old man in 11th month of his arrest on coup charges

Ali Osman Karahan, an 86-year-old Turkish man with walking and speaking difficulties has been kept in an Isparta prison for almost 12 months over alleged links to Turkey’s Gülen group, which Turkish authorities accuse of being behind a failed coup attempt in July of last year.

Self-criticism by the Hizmet movement

Hizmet is composed of volunteers who are heterogeneous in terms of religiosity, ideology, lifestyle, occupation, degree of involvement in Hizmet activities and so on. Since Hizmet is not a hierarchical organization, it does not have a headquarters. As a result, it is difficult to talk about Hizmet’s mistakes. One can talk about the mistakes of some Hizmet volunteers or institutions that are affiliated with Hizmet.

Ethiopian Minister of Foreign Affairs holds talks with TUSKON delegation

Foreign Affairs Minister Dr. Tedros Adhanom held talks Thursday with the representatives of TUSKON, the Turkish Confederation of Businessmen and Industrialists. Dr. Tedros told the delegation that the Government of Ethiopia deeply valued the relationship between Ethiopia and Turkey.

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

The real issue is the National Security Council [in Turkey]

“Peaceful Coexistence” – Workshop Organized Jointly by KADIP and Korean Religious Leaders

Fourth Anatolian Cultures and Food Festival in Los Angeles

Imam who lives in rural Pennsylvania arouses praise, concerns

Africa, Albania and Erdogan’s campaign against Turkish schools

Carter Center gives certificate of appreciation to Kimse Yok Mu

US, Gülen to trigger artificial earthquake(!) in İstanbul, Ankara mayor says

Copyright 2026 Hizmet News