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

Gülen’s book “Eternal Light” under spotlight at Pakistani fair

Public had chance to access many kinds of books at the fair. Speaking to Cihan news agency, head of Harmony Publications Yakup Un said there is a huge interest to the book Sonsuz Nur by Pakistani people.

Today’s Zaman celebrates 6th anniversary with columnists, editors

Today’s Zaman editors and columnists came together to celebrate the daily’s sixth anniversary at a dinner on Monday night. Some 30 Today’s Zaman columnists and the daily’s editorial staff came together at the Today’s Zaman headquarters in İstanbul for the dinner. “Today’s Zaman has been acknowledged as a reliable source of news and analysis during […]

Turkish cleric calls for international body to examine coup charges

Gulen, who has lived in self-imposed exile in the U.S. state of Pennsylvania since 1999, told the German broadcaster ZDF in an interview broadcast on Friday that there was no evidence linking him to the thwarted putsch, which he has denounced. He accused Turkish President Tayyip Erdogan of using the coup to silence opponents.

The next phase in Turkey’s political violence – third and coming coup could be the most violent

It has now been almost three months since the failed coup in Turkey. The events of July 15 were predictable, but they nevertheless mark a watershed in modern Turkish history. Still, it would be a mistake to view the coup as a single event. Turkey actually experienced two coups, but it will be the third and coming coup which could be the most violent and might very well cost Turkish President Recep Tayyip Erdoğan his life.

Kimse Yok Mu delivers iftar meals to homes

Turkish charity organization Kimse Yok Mu (KYM) delivers fast-breaking (iftar) meals for the needy families in their homes during the holy month of Ramadan. In the central province of Kayseri, volunteers from the KYM have been distributing iftar meal to the families in five neighborhoods which received great appreciation.

Turkic American Convention kicks off with opening gala cruise

İHSAN DENLİ, ALİ H.ASLAN, WASHINGTON D.C. The third annual Turkic American Convention began on Tuesday in Washington, D.C., in an opening gala cruise with the participation of politicians from the US, Turkey and the Turkic republics. Organized by the Turkic American Association (TAA), which represents six regional federations and over 200 community associations, cultural centers, […]

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

Academics praise Gülen’s contribution to world peace at symposium in Washington D.C.

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Investigation into journalist over MGK, MİT revelations blow to free press

Erdoğan confesses anti-Gülen witch-hunt has gone off track

Flynn stopped military plan against ISIS that Turkey opposed – after being paid as its agent

GYV holds reception for attendees of 70th UN General Assembly

Totalitarian interference in individual sphere

Copyright 2026 Hizmet News