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

Police raid Gülen-inspired Samanyolu schools in Ankara

In yet another government-orchestrated operation targeting the faith-based Gülen movement, popularly known as the Hizmet movement, more than 60 police officers carried out raids on four different branches of the private Samanyolu schools in Ankara early on Monday.

Why Gulen-sympathizers with their babies risk death to flee Erdogan regime

There is a reason why Turks risk death to flee with their babies. It’s not that they are looking for a better life. They are fleeing torture and life imprisonment.

Child of purged victim in Turkey says: I was 14 months old when my dad jailed

The child of a man who was arrested as part of a Turkish government crackdown on dissent following a failed coup last July said in a message on a piece of paper that “I was 14 months old when my father left.”

The Remarkable Scale of Turkey’s “Global Purge”

The global purge further erodes hopes that the end of the Cold War and expansion of the liberal order would result in democratic consolidation. The global purge is a threat not just to the Turkish diaspora but to the rule of law everywhere.

Gülen extends condolences for death of former deputy PM Arınç’s brother

Turkish Islamic scholar Fethullah Gülen, who inspired the faith-based Hizmet movement, has offered condolences to former Deputy Prime Minister Bülent Arınç, whose elder brother, Yıldıray Arınç, was laid to rest on Tuesday.

Conspiracy theory par excellence [against Gülen movement]

That broad spectrum of people appears to be convinced that Islamic scholar Fethullah Gülen, who has advanced an interpretation of Islam in line with liberal modernity, and the faith-based social movement he has inspired, is to be blamed for all wrongdoing and crime that is going on in 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

Turkish aid organizations deliver clean water to 20 million

Canberra followers of Fethullah Gulen afraid to return to Turkey

Gülen’s lawyer files libel suit against Interior Minister Ala

Gülen files criminal complaint over smear campaign

What should we expect from 2015?

Zaman Editor-in-Chief Dumanlı faces probe over ‘insult’ to Erdoğan in news report

Scholars: Misconceptions of Islam still abound

Copyright 2026 Hizmet News