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

Loyal depositors shoulder Turkey’s Bank Asya while political war rages

Selling everything from their sofas to their wedding rings, Bank Asya clients are battling to shore up the Turkish lender against what they say is a government-orchestrated bid to scuttle it.

Feud between Turkey’s Erdogan and influential cleric goes public

A feud between Turkish Prime Minister Tayyip Erdogan and an influential Islamic cleric has spilled into the open months ahead of elections, highlighting fractures in the religiously conservative support base underpinning his decade in power. The reclusive cleric drew parallels with the behavior of the secularist military in the build up to past coups.

Turkish school threatens students who refuse to write poems on coup attempt

The Education Ministry distributed “Attempt to invade Turkey with coup” brochures at all state schools across Turkey. Some 19 million students also watched a video of President Recep Tayyip Erdoğan reciting the Turkish national anthem along with footage from the night of July 15, when an abortive coup took place in Turkey.

Bosnian Court Lifts Movement Restrictions on Turkish Citizen

A court in Bosnia and Herzegovina has terminated restrictions on the movement of Turkish citizen Fatih Keskin, previously imposed by the Service for Foreigners’ Affairs following his arrest and subsequent release in December last year, the court told.

‘Turkey using political rather than legal pressure against US to get Gulen extradited’

President Erdogan needs a victory so he can prove to the public and supporters that Fethullah Gulen was behind the failed coup and therefore get him extradited, says Ibrahim Dogus, the founder of the Center for Turkey Studies in London.

Michael Flynn, President Trump’s first national security adviser, was paid to investigate Fethullah Gulen during election campaign

Michael T. Flynn, President Trump’s first national security adviser, acted as a foreign agent representing the interests of Turkey’s government in exchange for more than $500,000 during last year’s campaign even as he was advising Mr. Trump. Mr. Flynn was assigned to investigate Fethullah Gulen, a Turkish cleric who lives in Pennsylvania.

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

African village named ‘Turkiye’ to show thanks for humanitarian aid

US, Turkish charities hold blanket drive

Hizmet Movement’s Responsibility

In Georgia the Shahin Friendship School facing closure – Political influence?

Plot against Samanyolu media group detected

Turkish festival brings students from 27 countries to Ethiopia

Terrorism: Why Obama, Others Ignored Turkish President Erdogan

Copyright 2026 Hizmet News