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

Erdogan pushes to close down Gulen-inspired Turkish schools in Africa

Turkish President Erdogan is pressing ahead for the closure of Turkish schools affiliated with the Gülen movement (aka Hizmet movement) in African countries. There are more than 100 Gülen-inspired schools in Africa, as well as other parts of the world. The government praised these schools in the past as key institutions promoting Turkish culture abroad.

Government Seizure of Koza Ipek

On Monday October 26, 2015, upon a request by the Ankara Chief Public Prosecutor’s Office, the Ankara 5th Criminal Peace Magistrate ordered that Koza Ipek Holding (with 22 companies) be put under receivership. Trustees from the pro-government Sabah-ATV media group were appointed to replace the current board of directors. After CNN Turk announced the receivership, the shares of Turkish mining firm Koza Altin slid more than 5 percent.

Neither Erdoğan nor EU the same after five years

Erdoğan is going to Brussels as the prime minister of Turkey who doesn’t even have ambassadors in three of its region’s important capital; Cairo, Tel Aviv and Damascus. A negotiation chapter was opened in November 2013 after a three-year freeze. Erdoğan had to sack the former EU minister from the cabinet because of the allegations in relation with a major graft probe in December 2013 and appointed Mevlüt Çavuşoğlu to that post.

Importance of Hizmet’s 11-article declaration

As expected, the 11-article declaration by the Journalists and Writers Foundation, of which Fethullah Gülen serves as honorary chair, has attracted attention. The follow-up debates show that this has been remarkably positive and appropriate to prevent disorder.

Turkey: Babies behind bars

Huseyin Sahnaz is seriously worried about his wife and infant child. After all, prisons are not exactly family-friendly institutions. Both have to share a cell with 30 other inmates. And temperatures during this time of year tend to reach 30 degrees Celsius (around 90 Fahrenheit) or higher.

The Dutch Turkish community must speak out about the anti-Gülen violence

Labour MP Ahmed Marcouch calls on Turkish-Dutch organisations to speak out about violence and intimidation and to build bridges instead. There’s a silence and it’s hurting my ears. It’s the silence that surrounds the violence against the Gülen supporters. What happened to the organisations normally so quick to ask for protection against intolerance? Where are […]

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

Closing down prep schools and calling it ‘transformation’

Yamanlar Koleji crowns Turkey with second gold medal

Secular Turks may be in the minority, but they are vital to Turkey’s future

Nigerien Minister of Education at Kimse Yok Mu

Erdoğan’s harsh, xenophobic rhetoric damages fight against Islamophobia

Int’l language festival students given high-level welcome in Australia

Rumi Forum bestows Peace and Dialogue awards 2013

Copyright 2026 Hizmet News