Bank Asya weathers withdrawals, says CEO


Date posted: January 22, 2014

ISTANBUL

Turkish Islamic lender Bank Asya said it had weathered mass deposit withdrawals, which the media said were orchestrated by government supporters as part of a backlash against a corruption scandal blamed on an influential cleric.

Turkish media say state-owned companies have withdrawn 4 billion lira ($1.79 billion), some 20 percent of the bank’s total deposits, over the last month to try to sink the lender.

The government has declined to comment.

Bank Asya’s chief executive Ahmet Beyaz said the bank’s founders included sympathizers of cleric Fethullah Gülen, who officials say is behind the corruption investigation.
But he said the bank was not at risk.

“The deposit withdrawal was a significant sum, but new deposits worth more than half that amount were placed in the bank, making it possible for us to manage our liquidity,” Beyaz told Reuters in an interview late Jan. 21.

He said the new deposits came from ordinary citizens, supportive of the bank and its ethos.

Despite being a sympathizer of the U.S.-based cleric, Beyaz underlined that his bank did not belong to Gülen’s Cemaat religious community network: “This bank does not belong to the Cemaat. Its founders include people close to the Cemaat.”

Beyaz declined to say how much money had been withdrawn, but said the bank had been “comfortably positioned” on liquidity due to expectations the U.S. Federal Reserve would cut the stimulus that sent cheap cash flowing to markets such as Turkey.

Source: Hurriyet Daily , January 22, 2014


Related News

Russian scholar: Gülen promotes peaceful education for a world mired in conflict

Prominent Russian scholar Professor Rostislav Ribakov has praised US-based Turkish Islamic scholar Fethullah Gülen for the schools opened around the world by his supporters, saying that these schools are bringing up a new generation of students who uphold world peace.

Turkey’s Crackdown on Businesses Sparks Concern

The Turkish government crackdown that followed the failed July coup is expanding to businesses, with the assets of major multibillion-dollar conglomerates seized, along with hundreds of smaller companies.

Turkish headmaster accused of Isis links met Malaysian PM, not fit profile of an Isis operative

Karaman, who was the principle of a prestigious international school that promotes critical thinking as well as holding his post with the Malaysian-Turkish Dialogue Society, does not fit the stereotypical profile of an Isis operative.

Suspicious Deaths And Suicides On The Rise In Turkey With 54 People In Last 8 Months

Against the background of massive crackdown on critics and opponents in Turkey and widespread torture practices in detentions and prisons, 54 people were reported to have lost their lives, most under suspicious circumstances and under lock-up in the last eight months.

Evolution of the Gulen [Hizmet] Movement

HizmetNews.COM  November  14, 2012 Members of the Center for Strategic and International Studies (CSIS) gathered in Washington DC for a follow up discussion on the Gulen Movement on October 19, 2012. The group’s director Dr. Bulent Aliriza hosted the discussion… and said that the Gulen movement, perhaps more than any other in overall Turkish picture, […]

Why is the Hizmet community alone?

Some people I have talked to recently have started to ask the following question, which is also discussed on social media from time to time: Why is the Hizmet community still alone even though it is clearly on the right track?

Latest News

That is Why the Turkish Government could Pay 1 Billion Euros

ECtHR rules Bulgaria violated rights of Turkish journalist who was deported despite seeking asylum

Fethullah Gülen’s Message of Condolences in the Wake of the Western European Floods

Pregnant woman kept in prison for 4 months over Gülen links despite regulations

Normalization of Abduction, Torture, and Death in Erdogan’s Turkey

Turkey’s Maarif Foundation illegally seized German-run school in Ethiopia, says manager

Failed 2016 coup was gov’t plot to purge Gülenists from state bodies, journalist claims

Grondahl: Turkish community strong in wake of threats from back home

Turkish-Kyrgyz educator’s abduction shows Ankara’s ruthless disregard for law: HRW

In Case You Missed It

Truth and reconciliation in post-Erdoğan era

Is it a parallel triangle or square?

Russian expert: Kimse Yok Mu is in no way a terrorist organization

The follower of Hizmet

1,000 families provided with meat Kimse Yok Mu in Ankara

Turkish Schools In Somalia

A coup was launched from here? Intrigue in rural Pennsylvania

Copyright 2021 Hizmet News