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.
Supreme court calls on AK Party’s Şahin to substantiate claim about Gülen
The Supreme Court of Appeals has asked a senior Justice and Development Party (AK Party) official to hand over any evidence regarding his allegations about US-based Turkish Islamic scholar Fethullah Gülen amid claims by the official that a judge at the high court had acted contrary to legal procedures and contacted Gülen before issuing his final verdict in a case against a businessman several years ago.
Islam is compatible with Democracy, despite Turkey’s recent example
Despite the outward appearance of Islamic observance, Erdogan regime represents a complete betrayal of core Islamic values. These core values are not about a style of dressing or the use of religious slogans. They include respect for the rule of law and the independence of the judiciary, accountability for the rulers and the preservation of inalienable rights and freedoms of every citizen.
Dutch politicians outraged over new “Gulen-List”
Only days after Prime Minister Mark Rutte and Foreign Minister Bert Koenders’ frantic diplomatic efforts to limit Turkish interference in Dutch society, the Turkish state news agency published a new so-called “Gulen list” on Tuesday. The list contains names of organizations in the Netherlands allegedly affiliated with Fethullah Gulen, which are to be boycotted because they are considered enemies of the Turkish State. Politicians in the Netherlands are furious.
Said-i Nursi: An Ottoman Scholar in Turkish Republic
The saying goes as “The death of a wise man is like the death of the universe.” Those who can combine intellectual capacity with a purified spirit are like the enlightening candles of the world. As the Quran told us, among human beings only the wise men can have a true respect to Allah, because they are unprecedented examples of standing against cruelty, unswerving determination and constant struggle.
Is the Gulen Movement a Threat to the Turkish Government?
Hakan Yesilova The Turkish press has been dominantly occupied with the coup and violence in Egypt and Syria, and one more issue that has erupted, as if out of no where, is a so-called rift between the government and the Gulen Movement (GM), an influential faith-inspired educational movement. The story goes that some influential circles […]
The latest step by AKP-Gov’t witch-hunt against Hizmet Movement
In Turkey, the increasing pressure over the freedom of press, property rights and authoritarianism have reached an alarming level. A recent report on the rule of law and respect for human rights inTurkey declared that Turkish government had been perpetrating systematic human rights violations since December 2013.
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
Zephyrs from the Presence, the latest book by Ahmet Kurucan…
Prof. John L. Esposito’s keynote at the Gulen Movement conference, Chicago
AK Party VP Sahin: We can only be grateful to Hizmet people
Turkish school shelters locals in earthquake-hit Nepal
Twitter user apologizes for Gülen ‘traitor’ insult, blames politicians
60-year-old Turkish villager detained after questioning gov’t coup narrative
