Bank Asya shares surge after Turkish election results

Bank Asya
Bank Asya


Date posted: June 10, 2015

The AK Party’s failure to secure enough votes to form the government reflects on the stock market, with the politically-seized Bank Asya’s shares observing a 10.75 percent increase at opening on Monday amidst an overall drop in Borsa Istanbul.

Bank Asya had long been subject to political attacks and repeated demands by President Erdoğan to be taken over despite the fact that the publicly traded Islamic lender had one of the best capital adequacy ratios of the sector. Defamatory rumors published by pro-government press have been challenged, but unpunished.

As a result, in late May Turkey’s Banking Regulation and Supervision Agency (BDDK) seized the publicly-traded Islamic bank, placing it under the Savings Deposit Insurance Fund (TMSF), causing mass outrage by financial markets and banking experts.

The controversial move came months after the BDDK took control over its management after a long government-orchestrated campaign against it.

Bank Asya’s shareholders’ lawyers have voiced a strong demand for the return of the management to its rightful owners, and have applied to the courts to take action.

Source: BGNNews , June 8, 2015

Tags: | | | |


Related News

Gülen’s lawyer files lawsuit over unlawful police probe into Hizmet

Nurullah Albayrak, lawyer for Islamic scholar Fethullah Gülen, has filed a lawsuit against a police chief who issued a written order to 30 provinces to launch a sweeping campaign into the faith-based Hizmet movement on what Albayrak says are trumped-up charges.

Why couldn’t Bozdağ talk about the parallel structure?

Several parliamentarians attended the meeting with the Turkish minister in order to learn more about Erdoğan’s panacea “parallel state” theory and they insistently questioned Bozdağ about the Hizmet movement. Although he has etched his name in history as the minister who undermined the HSYK and halted the graft investigations at the speed of light, Bozdağ could only say a few sentences about the “treason, Hashashin-like activities, espionage, collaboration with external forces” of this parallel structure. Yet Europeans were eager to hear some explanation from an official.

UN demands access to 3 Turks forcibly returned from Malaysia

The United Nations Human Rights Committee has urged Turkey to confirm the whereabouts of three Turkish nationals who were detained in Malaysia at Ankara’s request due to their ties to the faith-based Gülen movement, a statement by the Brussels-based Intercultural Dialogue Platform said.

A reality check on [Turkey coup attempt] from America’s spy chief

Asked whether Turkish allegations that cleric Fethullah Gulen planned the attempted coup passed the “smell test” of credibility, National Intelligence Director James Clapper answered: “No. Not to me.” He said that Secretary John Kerry “was right on the ball” to press the Turks to back up their extradition request with evidence of Gulen’s involvement.

MP close to Gülen quits ruling AKP, slams accusations against Islamic scholar

İşbilen became the seventh member to resign from the AKP since the massive graft scandal went public on Dec. 17 and the ninth since the test prep school row that created the rift between Gülen’s Hizmet (Service) movement and the government. The lawmaker, who is known for his closeness to the movement, said he has known Gülen for more than 50 years and has never heard such harsh words being directed against him.

Pak businessmen asked to attend Istanbul Expo

The Regional Director Pak Turk International Schools and Colleges Ali Yilmaz has called upon the business community of Pakistan to fully take part in two days long World Trade Bridge 2014. The World Trade Bridge 2014 is being organized by TUSKON at Expo Centre Istanbul from June 18, 2014.

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

78 detained for raising money for post-coup purge victims

I object to AK Party’s ‘New Turkey’ (2)

International Summit: Women’s perspectives on UN post-2015 development agenda

Women gather for UN development agenda in İstanbul

Davis: Moderate voices such as Gülen movement are sorely needed

Top Three Reasons Why Turkey’s President Erdogan is Obsessed with Gulen

Man killed in Yalova over sympathy for Hizmet movement

Copyright 2026 Hizmet News