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.
For first time, Fethullah Gülen curses purge of police officials in emotional speech
Fethullah Gülen has cursed those responsible for a purge of police officials involved in a corruption investigation. Turkish PM Tayyip Erdoğan has called the detention of scores of people seen as close to the government a “dirty operation” aimed at undermining his rule. Erdoğan has refrained from naming Gülen as the hand behind the investigation and he referred to an “illegal gang within the state” and systematically purged officials, including journalists in public broadcasters.
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Ever since the failed July 15 coup attempt against Turkish President Recep Tayyip Erdogan, his government has applied all of the pressure it can muster to extradite exiled cleric Fetullah Gulen.
Former deputy Uras: Erdoğan struck deal with Ergenekon against Gülen movement
A former member of Parliament, academic Ufuk Uras claimed during an interview with a daily on Monday that President Recep Tayyip Erdoğan had made a deal with the leaders of the Ergenekon clandestine organization during his fight against the faith-based Gülen movement after the Dec. 17 and 25 graft investigations became public at the end of 2013.
Alevi leader Kenanoğlu: Discrimination against Alevis increased in 2013
It must be realized that religion is a matter for individual citizens. It is likely that the Gülen community will face restrictions and pressure from the government [as the AK Party government’s supporters have accused the Gülen movement of discrediting a number of ministers and their relatives in relation to a recent investigation into alleged bribery in public tenders, which saw the sons of three Cabinet ministers taken into custody alongside construction moguls and bureaucrats]. What we have been defending are universal rights, including the freedom of religion and belief. If these can be achieved, everybody will benefit from them, not just the Alevi community.
What is wrong with independent journalism?
Deputy Prime Minister Bülent Arınç called on prosecutors to take legal action on Monday against the Taraf daily and journalist Mehmet Baransu, who revealed a controversial National Security Council (MGK) document last week, signed by the ruling Justice and Development Party (AK Party) in 2004, which detailed a planned crackdown on the Hizmet (Gülen) movement.
Former intel chief calls for use of ASALA, MOSSAD tactics to kill Gülen followers
İsmail Hakkı Pekin, a former intelligence chief of the Turkish General Staff, has suggested that Turkey make use of tactics it used against Armenian militant group, the Armenian Secret Army for the Liberation of Armenia (ASALA), and those employed by Israeli intelligence agency MOSSAD against Nazis in order to assassinate followers of the Gülen movement abroad.
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