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


Related News

Gülen calls for support to a [presidential] candidate with true integrity

Commenting on the upcoming presidential elections on Sunday, Islamic scholar Fethullah Gülen has urged Turks not to cast their vote for a candidate who oppresses citizens, does injustice to them and disregards the rule of law.

PM Erdoğan widens hostile stance to include more and more groups

Erdoğan has been trying to dodge the damaging impact of the corruption scandals by using Hizmet as a scapegoat. Gülen, an ardent supporter of transparency and accountability in government, was critical of Erdoğan government’s efforts to stall the corruption investigations. Speaking to the BBC on Monday, Gülen said that the massive corruption investigations that have shaken the government cannot be covered up no matter how hard the government tries to derail the probes — not even by blaming the scandal on what the prime minister has called the “parallel state,” a veiled reference to the Hizmet movement inspired by Gülen.

Terrorist investigation against Kimse Yok Mu draws strong reactions

A shocking investigation being conducted by the Ankara Chief Public Prosecutor’s Office against prominent charity organization Kimse Yok Mu on charges of terrorism has been met with strong reactions from experts, who question how a charity can be accused of terrorism for delivering aid to those in need.

Nigeria: Hizmet Movement not terrorists

The Concerned African Youth against Tyranny (CAYAT) has denied report that the Fethullah Gulen Movement and Hizmet Movement are terrorist groups. National Coordinator of the organisation, Mr. Musa Shaba said yesterday in Abuja that contrary to claims by the Turkish government the movement has become the face of Turkey in Nigeria and Africa.

Pro-gov’t news portal proposes ways to execute Gülen followers

Following President Recep Tayyip Erdoğan’s promise “to cut off traitors’ heads,” the pro-government media called for an Ottoman-like solution for the execution of people linked to the Gülen movement. The social media message came a day after Erdoğan targeted people linked to the Gülen movement while speaking to a crowd of thousands on the anniversary of the failed coup attempt.

Gülen speaks to Kurdish paper, renews his support for education in mother tongue

Well-known Turkish Islamic scholar Fethullah Gülen has voiced strong support for education in one’s mother tongue, in reference to allowing the use of Kurdish in education in Turkey, and said basic human rights and freedoms could not be the object of any political bargaining as they are the natural rights of human beings. Speaking to […]

Latest News

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

SEO Skill Suite: Tools for Keyword Research, Technical & Backlink Analysis

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

In Case You Missed It

Serbian torture base now houses Turkish school

Gülen’s lawyer dismisses wiretapping claims

Police detain student over fingerprints on Gülen books

D.C. Group Holds Annual Peace and Dialogue Dinner in Albemarle

Bridge-building in ‘enemy country’ – Story of a Turkish asylum seeker in Greece

Ministry of Defense and Orizont High School to Cooperate in the Educational Area

‘When the last gang becomes a thing of the past’

Copyright 2026 Hizmet News