Bank Asya’s corporate governance rating increases


Date posted: June 30, 2014

 
ISTANBUL
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.

Source: Todays Zaman , June 29, 2014


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Such movements, especially if they’re Muslim, attract suspicion in the West. In 2008, the Dutch government began investigating Hizmet. Its conclusions were that the movement isn’t involved in terrorism or a breeding ground for radicalism, nor does it oppose integration of Muslims into secular states. In 2015, MLK’s alma mater, Morehouse College, awarded its Gandhi King Ikeda Peace Award to Gülen for his lifelong commitment to peace among nations. But Erdogan insists that Gülen is a terrorist.

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