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

Human Rights Watch: Emergency Decrees Facilitate Torture in Turkey

Turkish police have tortured and otherwise ill-treated individuals in their custody after emergency decrees removed crucial safeguards in the wake of a failed coup attempt in July, 2016, Human Rights Watch said in a report released today. The report details 13 cases of alleged abuse, including stress positions, sleep deprivation, severe beatings, sexual abuse, and rape threats, since the coup attempt.

Washington mute as Turkey spying allegations cause outrage

Washington has refused to either confirm or deny allegations that its security intelligence agency had been involved in spying on top-level Turkish officials, while Turkish critics fear it could make the country’s security vulnerable, if the allegations are true.

Houston firms ‘explore’ Turkey on direct flights

A business delegation of Houston-based companies is currently visiting İstanbul in a program organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) to discuss expanding trade ties and business opportunities with their Turkish counterparts. The visit comes on the heels of the recently launched direct flights between Houston and İstanbul by Turkey’s national flag […]

Arresting police to make Erdoğan happy

It is no secret that under the direction of Prime Minister Recep Tayyip Erdoğan police officers who conducted graft operations against his close associates have been detained.

The irrationality of demanding Turkish schools abroad be shut down

Since last year, Turkish President Recep Tayyip Erdoğan has been constantly “advising” his foreign counterparts to shut down the Hizmet schools in their countries.

Prep school owners write to Constitutional Court

The Constitutional Court will review a law that seeks to shut down preparatory schools that assist students in studying for the national high school and university admission exams after organizations representing private prep schools wrote to the court, asking to make statements about the problems that might arise due to the closure of these institutions.

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

Turkey’s purges continue a year after failed coup

Why Gulen-sympathizers with their babies risk death to flee Erdogan regime

Romanian Senate president inaugurates Turkish school in Romania

Concluding statement of the International panel on Mary announced

PA State Rep. Margo Davidson reflects on her visit to Turkish refugees in Greece

Police and inspectors raid Gülen-inspired schools in Çanakkale

Of judges and coupists – Recent coup attempt in Turkey

Copyright 2026 Hizmet News