Bank Asya shares surge after Turkish election results
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.
Mother with disabled son and daughter detained over alleged coup involvement
Hatice Kökoğlu, the mother of a disabled son and a daughter, has reportedly been detained in Kütahya province over alleged links to the Gülen movement. However, the two disabled children were left alone after their mother was recently taken into custody as part of an investigation launched by the Kütahya Public Prosecutor’s Office.
Interview: U.S. Judge Says Turkey’s Judiciary ‘Taken Over’ By Erdogan
Even before the coup attempt in July, the judiciary was being essentially taken over by [then] PM Tayyip Erdogan. When the attempted coup occurred in July, within 24 hours there were arrest warrants for almost 3,000 judges. And it’s very clear, and in fact it’s been admitted by the deputy chair of the High Council [of Judges and Prosecutors, the body that selects and assigns judges], that that list of judges had existed for years.
Votes of religious orders and communities [in Turkey]
The three-week debate between Prime Minister Recep Tayyip Erdoğan and Fethullah Gülen had a long past that falls under this category. Although the AK Party is powerful, the Gülen movement is not a piece of cake it can swallow easily. The AK Party is a political party that keeps its members together using the power and interests available to a ruling party. The Gülen movement, on the other hand, is an army of volunteers.
Brazil court orders release of Gulen-linked businessman accused by Ankara of terrorism
Brazil’s Supreme Federal Court ordered Tuesday the release of a Brazil-based Turkish businessman who was arrested over links to US-based Muslim cleric Fethullah Gulen.
The fate of prosecutors
An election was held at the Ankara Bar Association recently. Nuh Mete Yüksel, who was among the powers that be in the prosecutorial community in the past, entered while this was taking place. He was once an awe-inspiring prosecutor. Apparently, he retired from prosecuting and became a lawyer. Of course, he is now deprived of the terrifying appearance he had in those years. He no longer has the frigid countenance that would send everyone’s hearts throbbing with fear. As it happens, some lawyers started to protest harshly the “fledgling lawyer.” Moreover, the hall was filled with shouts of “Go away!” So Yüksel had to go back without casting his vote…
We the pious did not feel for the suffering of the Kurds
There’s even a television channel named “Dunya TV” founded by Fethullah Gulen’s followers and it broadcasts in Kurdish. An attorney in our Abant Meeting said he’s had some suspicions about our sincerity but he said the atmosphere in the meeting has persuaded him.
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