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

A Case for Why Gulen Would Never Support a Coup

In his interview with the prominent French newspaper Le Monde, Gulen has called the July 15 events in Turkey a “terror coup.” As a man who has always condemned terrorism and violence in any shape or form, to which his life’s work is evidence, it is hard to believe that Gulen could have had the slightest connection to the coup.

‘Consider your husband dead, start a new life,’ prosecutor tells detainee’s wife

Cumhuriyet daily columnist Aydın Engin wrote on Wednesday that the wife of a detainee sent him a letter claiming that a prosecutor told her to consider her husband dead since he can never be freed.

Gülen denies role in blocking publication of Şık’s book

In a statement, Gülen said he has never worked to block the publication of a book even though they are many books on the shelves that target him personally. “Many books against me personally have been published. But I have never been engaged in efforts to prevent the publication of a book.

Turkish Olympiads Cultural Festival attended by 3 million visitors in İzmir

Nearly 3 million people attended the Cultural Festival of the 11th International Turkish Olympiads, an event celebrating the Turkish language that will bring together 2,000 students from 140 countries this year. The event, which began on Friday, was held by the Turkish Education Association (TÜRKÇEDER) and attracted considerable interest from both visitors from İzmir and […]

Terrorist Bahoz Erdal calls on families to protect their children from the Gulen Movement!

“Bahoz Erdal” code-named Fehman Hussein, who represents the most bloody wing of the PKK terrorist organization and the organization’s Syrian wing, directs preposterous accusations to the Gulen movement and the police. He claims that the movement entraps Kurdish children and brings up them as spies. Bahoz argues, “They [the movement] recruit Kurdish kids at their […]

Turkish Education Ministry engaged in profiling of staff, daily claims

The Taraf daily published a number of new documents on Monday that showed the Ministry of Education has profiled its staff based on their ideological and religious backgrounds. The documents, which date back to September 2013, suggest that ministry personnel who voiced criticism of the Justice and Development Party (AK Party) government and who are members of religious or faith-based groups were “noted” in official communiqués.

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

African Union Commission chair supports creation of more Turkish schools

Once shut down by Taliban, now Afghan gov’t plans to hand over successful Turkish Schools to Turkish Gov’t

So who’s finished exactly: the Gülen movement or the AKP?

PA State Rep. Margo Davidson reflects on her visit to Turkish refugees in Greece

Turkey Is No Longer a Reliable Ally

Turkish scholar Fethullah Gulen awarded in South Korea

GYV Declaration: The AKP and Hizmet on democracy

Copyright 2026 Hizmet News