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Turkish media say state-owned companies have withdrawn 4 billion lira ($1.79 billion), some 20 percent of the bank’s total deposits, over the last month to try to sink the lender.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Beyaz declined to say how much money had been withdrawn, but said the bank had been “comfortably positioned” on liquidity due to expectations the U.S. Federal Reserve would cut the stimulus that sent cheap cash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

Filipino businessman grateful for Turkish schools

Filipino Chairman of Union of Chambers and Exchange Commodities Abdulgani Macatoman praised the Turkish schools operating in his country for their achievements. “My both children are studying at the Turkish schools. These schools have been among the top-rated all the time. We have a total of 926 high schools in the capital Manila and the Turkish schools top the list. I would like to thank Turkish people for establishing these schools.”



Prove it [that Hizmet linked to graft operation]

There are some people who fail to look at the charges that have been leveled against the detainees in the corruption operation that has touched the sons of three ministers and instead they just speculate about the timing and forces that prompted the operation.

Students from 140 countries to participate in Turkish Olympiads this year

A total of 2,000 students from 140 countries will attend the 11th International Turkish Olympiads, which brings together hundreds of foreign students studying at Turkish schools around the world, this year. A press conference was held by a member of the International Turkish Olympiads organizing committee, Işılay Saygın, on Monday in İzmir to give details […]

CPJ report: Turkey world’s 10th most dangerous country for journalists

The Committee to Protect Journalists (CPJ) on Wednesday released a special report for 2014 designating Turkey is the world’s 10 worst country for journalists, once again underlining the country’s deteriorating situation for freedom of expression and free media.

Erdoğan government opposes democratic values: detained Turkish journalist

The government of Turkish President Recep Tayyip Erdoğan is falsely accusing anybody that opposes it of treason, a prominent Turkish journalist currently detained in an Istanbul prison

Islamic scholar Gülen responds to Turkish PM’s ‘lair’ remark in heated row over graft probe

Islamist scholar Fethullah Gülen has countered the Turkish prime minister’s remarks vowing to clamp down on “the ones in lairs,” escalating the heat of the war of words between parties amid the ongoing corruption probe.

Latest News

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Erdogan possessed by Pharaoh, Herod, Hitler spirits?

Devious Use of International Organizations to Persecute Dissidents Abroad: The Erdogan Case

A “Controlled Coup”: Erdogan’s Contribution to the Autocrats’ Playbook

Why is Turkey’s Erdogan persecuting the Gulen movement?

Purge-victim man sent back to prison over Gulen links despite stage 4 cancer diagnosis

University refuses admission to woman jailed over Gülen links

In Case You Missed It

International photography contest “Peace at the Frame”

Are politics and Hizmet from different walks of life?

Bryan couple joins interfaith tour of Turkey

Terrorist organization seeks to fill void in Southeast after closure of prep schools

Reps urge Federal Govt to intervene in Nigerian students’ detention in Turkey

KCK suspect Ersanlı says doesn’t believe Hizmet behind coup, terror trials

Pak-Turk Parents Association calls for immediate recovery of ex-principal, his family

Copyright 2024 Hizmet News