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

AK Party’s social media instructions to ministries raise questions of legality

The Taraf daily reported on the written instructions sent in an email to social media coordinators at government ministries by the AK Party’s media coordinator, Burak Gültekin. The email read as follows: “Dear ministry social media coordinator, Attached please see a note on prep schools…” The attachment included templates for tweets some of which include content teasing the Hizmet movement and the Islamic scholar Fethullah Gülen.

Islamic scholar Gülen calls for ‘reasonability’ in prep school row

Islamic scholar Fethullah Gülen has called on the government to act “reasonably” in its plan to close test prep schools, adding that they were the ones receiving a “slap,” in a veiled reference to a statement from Prime Minister Recep Tayyip Erdoğan. You have to defend it without making concessions in the language you use,” Gülen said in an apparent message to members of the “Hizmet” [Service] movement.

Civil death: Amnesty report on social upheaval caused by Turkey’s purge of public servants

“Tainted as ‘terrorists’ and stripped of their livelihoods, a large swathe of people in Turkey are no longer able to continue in their careers and have had alternative employment opportunities blocked,” Andrew Gardner, Amnesty International’s researcher on Turkey.

Turkic American Convention kicks off with opening gala cruise

İHSAN DENLİ, ALİ H.ASLAN, WASHINGTON D.C. The third annual Turkic American Convention began on Tuesday in Washington, D.C., in an opening gala cruise with the participation of politicians from the US, Turkey and the Turkic republics. Organized by the Turkic American Association (TAA), which represents six regional federations and over 200 community associations, cultural centers, […]

60-year-old Turkish villager detained after questioning gov’t coup narrative

Murat Gulen, a 60-year-old villager and a relative of Fethullah Gulen was detained after he was revealed questioning the government’s narrative over the July 15, 2016 coup attempt during a video interview by the pro-government Ihlas News Agency.

Deepening crisis

As the Turkish government clamps down on protesters and attempts to hinder the corruption probe, Turkey is plunging deeper into a crisis that threatens to have a lasting impact on its society and economy.
The corruption case is the main story. With every move made to protect those in its immediate circle, the government is stepping away from the rule of law and undermining its reputation further.

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

Newly-released journo offers insider view at victims of Turkey Purge

Turkish imam spy affair in Germany extends across Europe

Turkey’s post-coup purge and persecution makes no exception for children

Celebrating Turkish Cultural Day

“We will root out every single Gülenist from the Balkans,” Erdoğan says in Serbia

Afghan-Turk Teachers Call Their Extradition Illegal

Prime Ministry approved Kimse Yok Mu, now accused of ‘terrorism’

Copyright 2026 Hizmet News