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

Did Erdogan stage the coup?

Erdogan called the coup attempt and the excuse to crush his opponents “a gift from God.” But was the coup really “a gift from God” or was it Erdogan’s gift to himself? Was it Turkey’s equivalent of the Reichstag Fire?

Parents jailed over Gülen links not allowed see their children for 9 months

Parents of four Bedia Baş and Abdülkadir Baş, who were arrested on terrorism charges in the aftermath of a failed coup attempt in Turkey in 2016 due to their alleged links to the Gülen movement, were not allowed to see their children during the first nine months of their incarceration.

Zaman Arabic aims to be online paper of reference

Zaman Arabic, a new online newspaper from the Zaman Media Group, was launched on Monday in an effort to provide news about Turkey to the Arab world in its own language.

Parallel hearts…

It is unfair to accuse a movement whose only goal is to win hearts of seizing the state through bureaucracy. It destroys the world of the Anatolian people who are now holding hopes that they would be able to deal with their fate in the world. The goal and purpose of the Hizmet movement is not to create a parallel structure; its goal is to establish parallel hearts and a universal chorus of peace.

Terrorist organization, you say

He is 73 years old and is known as a respected scholar who has been studying Islamic exegesis. He is well-known in academia. He was promoted to associate professor in the field of Islamic exegesis back in 1977. He served as head of the exegesis department at the faculty of theology at Erzurum’s Atatürk University, conducted research in Paris Sorbonne, taught at the faculty of Islamic studies at the Islamic University of Madinah, was the chair of exegesis studies at Marmara University and conducted academic studies at International Islamic University of Malaysia. He is the author of 13 books and hundreds of articles.

ALDE’s Watson says illiberal state leads to unjust action against Gülen followers

Sir Graham Watson, the outgoing president of the Alliance of Liberals and Democrats for Europe (ALDE) Party, has said, while citing the consequences of a country’s deviation from liberal values, that the politically motivated moves targeting the followers of Turkish Islamic scholar Fethullah Gülen are the result of an illiberal state.

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

How come a 25 days old BABY could be a THREAT to the national security?

Turkey’s purges continue a year after failed coup

US says Turkey favors Sunni Islam over other creeds

[Hizmet’s] Prep schools and civilized debate

Barton: Erdoğan intoxicated by power, imperiling democracy in Turkey

Flynn stopped military plan against ISIS that Turkey opposed – after being paid as its agent

Turkish Gov’t Seizes 965 Gülen Movement Affiliated Firms With $11.3 Billion Worth

Copyright 2026 Hizmet News