Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

NPR interviews Stephen Kinzer on graft probe and Fethullah Gulen

A corruption scandal has forced Prime Minister Recep Tayyip Erdogan to reshuffle his cabinet, but he is rejecting calls for his resignation. Three of his ministers have resigned because of the scandal. The situation today is being called the biggest threat yet to Erdogan’s 11 years in office. Stephen Kinzer, visiting fellow at the Watson Institute at Brown University, joins Here & Now’s Robin Young to discuss the unfolding situation in Turkey.

NY Times Editorial Board: Mr. Erdogan’s Reckless Revenge

At such a time, one would hope for a leader willing and eager to unify his people under the rule of law, to reaffirm democratic values and to address the grievances that motivated the plotters in the first place. So far, Mr. Erdogan seems determined to fail this test of leadership.

Fethullah Gülen donates $10,000 for victims of Typhoon Haiyan disaster in Philippines

Turkish Islamic scholar Fethullah Gülen donated to the Kimse Yok Mu foundation $10,000 for the victims of the Typhoon Haiyan disaster in the Philippines. “According to the United Nations Office for the Coordination of Humanitarian Affairs [UNOCHA], 4.3 million people have been affected by the typhoon and 330,000 people are now homeless. Ninety percent of the houses in Tacloban city have been damaged,” AFAD stated recently.

Erdogan’s endless legitimacy crisis

Erdogan, who is avoiding dealing with the corruption charges, cannot preserve his government on the dead-end street he has entered.

Koza Altın latest victim of government silencing political dissent

Gold mining company Koza Altın A.Ş., the owner of Bugün daily and Kanal Türk TV station, had its activities halted on Tuesday in Çukuralan goldfield, one of the company’s five major gold mines, in a move that has been perceived as the most recent example of the government’s exploitation of inspections and red tape to put pressure on those with critical views.

Fethullah Gülen’s vision – Building bridges in Los Angeles

Yavuz Baydar Heading to Los Angeles, I had good reason to revisit a recent article that my colleague, Dr. Şahin Alpay, wrote for Today’s Zaman. Titled “Why is Fethullah Gülen so influential?” (May 5), it addresses several basic questions about the personality who was chosen by TIME Magazine in its April 29 issue as one […]

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

Scholars at Abant Meeting call for EU negotiations, domestic reform

Peace ambassador students conquer hearts at European Parliament

Kimse Yok Mu lends helping hand to 1,650 Somali families during Ramadan

Texas enjoys International Festival of Language and Culture

Extradition of Turkish Citizens: Moldova to pay 125,000 euros in damages for rights violations

South Africa is not a hunting ground for Erdogan

Turkey’s Curious Coup – positions of the Turkish Government, Gulen Movement and Turkey’s Western allies

Copyright 2026 Hizmet News