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

Turkey to bid farewell to rule of law if president approves HSYK law

Asked about the prime minister’s claims of the existence of a “parallel state” or the Hizmet movement behind the investigation, the professor said, “These are not claims that are based on concrete information or documents.”

Turkey: Babies behind bars

Huseyin Sahnaz is seriously worried about his wife and infant child. After all, prisons are not exactly family-friendly institutions. Both have to share a cell with 30 other inmates. And temperatures during this time of year tend to reach 30 degrees Celsius (around 90 Fahrenheit) or higher.

Erdoğan says his gov’t will carry out ‘witch hunt’

There are rumors that the only criteria behind these purges is links to a “parallel state,” a term the government has been using to define the Hizmet movement, which is a grassroots movement based on voluntary participation to spread interfaith dialogue and tolerance, with a particular emphasis on education.

Zaman Stanizai on Fethullah Gulen and Hizmet Movement

Dr. Zaman Stanizai is a Professor of Mythological Studies at the Pacifica Graduate Institute in Santa Barbara, California and he teaches Political Science at California State University, Dominguez Hills. He has written on political theory with emphasis on the viability of third world states encountering globalization, and on political identity focusing on the politicization of ethnic, national, and religious identities as a contributing factor in regional and world conflicts.

Symposium concludes: Hizmet (Gulen) Movement Contributes to World Peace

Professors said that Hizmet is an anti-violence group that uses education and dialogue to achieve its goals. One of the highlights of the symposium was Dr. Martha Kirk’s presentation called Iraqi Women of Three Generations. There are 32 Hizmet schools in Iraq and she said these institutions teach Iraqi women self confidence.

‘Fethullah Gülen and Today’s World’ to be a reference book in Eurasia

ŞULE KULU , İSTANBUL A conference was held two weeks ago in Almaty to introduce a new book titled “Fethullah Gülen and Today’s World” written by Kazakhstan’s Sciences Academy’s Philosophy and Politics Institute along with two other books, a Kazakh translation of “Beyan” (Exposition) written by Fethullah Gülen and a Russian translation of “A Dialogue […]

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

Texas Senate passes resolution commending Fethullah Gülen

Turkish man in Netherlands sentenced for threatening Erdogan critic

A major scandal by the Mukhabarat state

Gülen worries fake news could associate new terror attacks, assassinations in Turkey with him

Tamsil: The inadvertent overspill of internalization

Conspiratorial minds, authoritarian politics

Pro-gov’t daily: Turkey, Russia could conduct joint operation to abduct Gülen

Copyright 2026 Hizmet News