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

Who is Fethullah Gülen?

The leader of the main opposition Republican People’s Party (CHP), Kemal Kılıçdaroğlu, rightly called it “a coup against democracy” when Zaman Editor-in-Chief Ekrem Dumanlı and STV network executive Hidayet Karaca, together with a number of screenwriters and television producers, were detained on Dec. 14 on the incredible charges of founding or belonging to “an armed terrorist organization aiming to seize the sovereignty of the state.”

School officials to sue the Turkish ambassador for defamation

In response to statements made by the Turkish ambassador to Cambodia on Monday, officials from the Zaman International School (ZIS) yesterday denied any links with terrorist organizations, saying the ambassador’s claims were unfounded and lacked evidence.

Hizmet, politics and political parties

In the past, the Hizmet movement never formed alliances or got involved in an organic relationship with any political party. At the same time, it never ever demanded anything from political parties that strayed outside of the above-outlined principles, or was contrary to rights, the law, democracy, merit or the will of God. The Hizmet movement gains its strength from this fullness of heart and independence.

GYV president Usak passes away in exile

A renowned intellectual, journalist and president of the Journalists’ and Writers’ Foundation (GYV) Cemal Usak, who was among the targets of the Turkish government’s ongoing crackdown on the faith based Gulen movement, has passed away at the age of 63 while in exile. Usak had been receiving cancer treatment for the past several years. Reportedly, he was told he would die in prison if he comes to Turkey.

Concluding statement of the International panel on Mary announced

The international panel, titled “Mary in the Holy Scripture and Qur’an,” which was jointly held by the Journalists and Writers Foundation’s (GYV) Intercultural Dialogue Platform (KADİP), the Tevere Institute and İzmir Intercultural Dialogue Center (İZDİM), was concluded with a statement.

Religious freedom threatened by Turkey’s response to coup

From his self-imposed exile in Pennsylvania, Gulen has disavowed any association with the coup attempt. “My philosophy — inclusive and pluralist Islam, dedicated to service to human beings from every faith — is antithetical to armed rebellion,” Gulen wrote for The New York Times.

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

Mosaic Foundation brings together Denver’s prominent people over a friendship dinner

Galaxy International School in Uganda educates thinkers, innovators

Erdogan’s problem with his well-educated citizens

Whistleblower Fuat Avni: Gov’t to plant weapons in Hizmet buildings to declare it terrorist group

Turkish PM admits did not know identity of putschists when he blamed Gülen movement

Gulen: Issuance of arrest warrant changes nothing about my views

Local, foreign participants debate Turkish democracy at Abant platform

Copyright 2026 Hizmet News