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

BBC interviews families of abducted Gülen followers

The families of abducted Gülen followers, whose abductions have been confirmed by eyewitnesses, have spoken to BBC Turkish service. Eleven people have been reported missing in Ankara since January.

Analysis: Power of Turkey’s Fethullah Gulen

PM Erdogan accuses Hizmet supporters within the state of plotting a “coup” against the government. But the scale of the upheaval in the police, judiciary, Turkish state TV and other parts of the bureaucracy is already similar to what happens in a coup. The current Erdogan-Gulen stand-off is reminiscent of Mustafa Kemal Ataturk’s hostile relations with Said-i Nursi, a politically active Kurdish preacher in the formative years of the Turkish Republic.

Are ambassadors propaganda officials for the ruling party?

Those who order ambassadors to put their citizens abroad in a difficult position in violation of human rights and national interests do not understand this: The international community is more concerned about whether the government sticks to democratic principles and the rule of law and less about who triggered the recent political crisis.

TÜBİTAK official says forced to make changes to bugging device report

The former head of the Scientific and Technological Research Council of Turkey’s (TÜBİTAK) Research Center for Advanced Technologies on Informatics and Information Security (BİLGEM) has said he was forced to make changes in a report as part of an investigation into a “bugging device” found at the prime minister’s office.

Whistleblower reveals wiretapping conspiracy to libel Hizmet

According to the letter, a special team was established at the Prime Ministry late last year to conduct psychological warfare, including producing disinformation and false evidence to implicate the Hizmet movement in criminal activity.

Replacing Turkey’s purged elite

On Wednesday, Reuters reported that Turkey has recalled, dismissed, and imprisoned the cream of the crop of its military, its NATO envoys. 400 NATO military envoys in Europe and the United States, the most trained and experienced, have been purged.

Latest News

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

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

In Case You Missed It

Turkish Olympiad Finals add a festive air to Kiev

Turkish prosecutor demands detention of 21 women, leaving 10 infants unattended

Shadow of Military Removed, Turkey Seeks a Spiritual Leader’s Remains

Kimse Yok Mu extends a hand to Syrian refugees in Turkey

‘Erdoğan to take action against Hizmet after restructuring judiciary’

Erdoğan Is Destroying Turkey’s Hopes for Democracy

Exhibit lets Iraqi women tell stories of heartbreak and hope

Copyright 2026 Hizmet News