Bank Asya, a leading Turkish financial institution, announced on Sunday that their corporate governance rating had increased in June over its score from last year.
The bank released the figures in an announcement addressed to the Public Disclosure Forum (KAP). According to a recent report prepared by the Capital Markets Board (SPK), Bank Asya’s corporate governance rating increased from 84.20 in June 2013 to 90.85 in June of this year.
The founders of Bank Asya are known for being affiliated with the Hizmet movement, inspired by Islamic scholar Fethullah Gülen. News reports circulated earlier this year indicating the government had attempted to sabotage the bank, as corporations with close ties to Prime Minister Recep Tayyip Erdoğan withdrew upwards of TL 4 billion from their accounts, accounting for nearly one-fifth of the bank’s deposits.
Islamic lender raises capital after massive gov’t withdrawal
Turkish Islamic lender Bank Asya has made a cash capital increase on the back of claims that state-owned companies and institutional depositors have withdrawn millions of Turkish Liras of the bank’s total deposits. The lender said it had decided to make a cash capital increase of 33 percent to 1.2 billion liras ($515 million) and was selling an 18 percent stake in retailer Yeni Mağazacılık (A101) for 298 million liras.
US State Department ‘Can’t Imagine’ Accepting Erdogan Offer to Trade Hostage Pastor for Gulen
“President Erdogan’s suggestion that the U.S. should make a hostage-style prisoner swap for an innocent American imprisoned in Turkey is appalling and will not be taken seriously,” Sen. James Lankford (R-OK) said. Brunson’s is not the first case that has resulted in a Western country accusing Erdogan of hostage diplomacy.
Turkish President calls for calm as gov’t defuses tension with Gülen movement
In a bid to de-escalate a heated debate between the government and Islamic scholar Fethullah Gülen’s movement surrounding the future of private prep-schools, known as “dershanes,” President Abdullah Gül has called for attention to be focused instead on “more essential issues.” “Development in scientific fields is permanent. The others are daily discussions, today there are […]
Turkish Extradition Request Could Strain Relations With US
The news that Turkey will officially request that the United States extradite Turkish Islamic scholar Fetullah Gulen is threatening to strain U.S.-Turkish relations. Ankara insists Gulen is behind a conspiracy to overthrow the government. But analysts warn that Ankara may find it difficult legally to secure his extradition.
President Gül dismisses calls to help tackle political turmoil
During a press conference held on Monday, the GYV, whose honorary chairman is Turkish Islamic scholar Fethullah Gülen, stated that a hate crime is being carried out against the Hizmet movement in Turkey and called on President Gül to take the initiative to investigate the executive branch’s recent attempts to render the judiciary dysfunctional.
Erdoğan’s ‘non-precious’ loneliness
The US and Europe now use Erdoğan’s level of aggression against whomever he targets as an indicator to measure the degree of democratic culture of the Turks. For this reason, as Erdoğan and his government intensify their aggression, the Hizmet movement becomes more respectable and prestigious in the world.
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