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.
Father jailed over Gülen links, 6-months-old paralyzed baby left in intensive care
Y., the father of a 6-month-old disabled baby, was reportedly arrested almost three months ago over alleged links to the Gülen movement. The newly-born disabled baby has been left with the mother, who told the news portal that the baby underwent three expensive and crucial surgery in the past three months.
It’s not about a conflict between the government and Hizmet movement
Insanity ripples through the country, the media and the people. If graft or corruption is the prevailing form of life spreading from the state to society, and if this form of life is supported by people, then we are hitting the bottom day by day. A prosecutor can say “We can detain 500 thousand people if necessary” and still hold his post as if he said quite an ordinary thing. Whereas in Europe mental health of such a prosecutor would be called into question and most probably examined.
Fethullah Gulen: I consider the coup attempt as a serious “terror coup”
The events of that night [the coup attempt] could be called as a serious terror coup. I categorically reject such accusations. The claim that I convinced the 8th biggest army in the world from 6000 miles away against its own government is an incredible slander. I would like those who are responsible for this coup attempt, regardless of their identities, to receive the punishment they deserve after a fair trial.
JWF strongly condemns this terrorist attack on the Charlie Hebdo
Twelve people including two police officers were killed in a shooting at the Paris offices of the satirical weekly Charlie Hebdo on Wednesday, according to Reuters.
Right to dissent in Turkey
The primary reason why members of Hizmet (Service), a faith-based social movement inspired by Islamic scholar Fethullah Gülen, have been attacked, vilified and stigmatized by a government that is dominated by overzealous political Islamists and pro-Iranian sympathizers is that Gülen is standing up to the increasingly authoritarian powers of Erdoğan, who has seized control of the republic’s institutions including the judiciary, leading to increased polarization and tension in Turkish society.
Council of Europe warns against hate speech by senior state officials in Turkey
The human rights body of the Council of Europe, the Commission against Racism and Intolerance, issued a report on Wednesday about the increasing use of hate speech, even by senior state officials. While President Recep Tayyip Erdoğan called the Gülen sympathizers “viruses,” Prime Minister Binali Yıldırım labeled them microbes. The movement is the main target of a massive purge and witch-hunt in Turkey.
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