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Turkish media say state-owned companies have withdrawn 4 billion lira ($1.79 billion), some 20 percent of the bank’s total deposits, over the last month to try to sink the lender.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Beyaz declined to say how much money had been withdrawn, but said the bank had been “comfortably positioned” on liquidity due to expectations the U.S. Federal Reserve would cut the stimulus that sent cheap cash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

Hizmet movement discussed in heart of African Union

30 May 2012 / KAMİL ERGİN , ADDIS ABABA An international symposium on the Hizmet movement (aka Gulen movement), which includes followers of Islamic scholar Fethullah Gülen’s principles, and the concept of dialogue, held in Ethiopia last week, brought together a large number of academics and top state officials from close to 40 countries to […]

European Parliament calls for fair trial of suspects arrested in anti-coup operations in Turkey

Members of the European Parliament (EP) discussed developments following the July 15 failed coup attempt in Turkey at a session on Tuesday and stressed the need for the fair trial of suspects who have been arrested on coup charges.

Prep school students dominate LYS university entrance exam

FEM, Körfez and Maltepe dershanes associated with faith-based Hizmet Movement (also known as Gülen Movement) dominated top spots in this year’s exams. Ö. Furkan Parmak, who received the highest score in the TM (Turkish-Math)-1, TM-2 and TM-3 categories in the LYS exam, studied for the exam at the Maltepe prep school in Ankara.

Silence of the (AKP) lambs

Erdoğan risks his own Islamic beliefs just to lead his voters to believe that Gülen and his followers are not Muslims, but puppets and even agents of the United States Central Intelligence Agency (CIA) — just like Ivan Watson of CNN International! — and Mossad. Erdoğan also keeps claiming that Fethullah Gülen and Hizmet movement supporters are terrorists.

Why Is Turkey Targeting Hizmet? Questions about Erdoğan’s Post-Coup Crackdown

In May 2009, I received an award at the International Turkish Olympiad. The event was sponsored and organized by members of the Hizmet movement and most of the performers were students of Hizmet schools abroad. When I, together with a handful of other recipients, mounted the stage to accept our awards, there to shake our hands was the smiling then prime minister of Turkey, Recep Tayyib Erdoğan.

‘Parallel’ paranoia reaches the kitchen of Parliament

In the latest example of the Justice and Development Party’s (AK Party) “parallel” paranoia, the ruling party’s Sinop deputy and head of the Parliamentary Interior Affairs Commission, Mehmet Ersoy, ordered restaurant officials in Parliament to remove a dish called “samanyolu kebap” as it reminds him of institutions affiliated with the “parallel structure,” a daily reported on Monday.

Latest News

This notable Pocono resident has been living here in exile since 1999

Logistics companies seized over Gülen links sold in fast-track auction

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

In Case You Missed It

Is the March 30 referendum in danger?

Japanese journalists express concern over Turkish gov’t pressure on critical media

Turkish school sacrifices over 150 cows for Eidil Adha

Erdoğan, Hizmet, assassins

Parents react to auditor, police raid of Hizmet-inspired school

Fethullah Gülen lawsuit [in the US] thrown out in setback for Turkey’s Erdoğan

Gülen chair holder praises movement’s focus on education

Copyright 2021 Hizmet News