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

World media covers possible anti-journalist ops; Turkish press silent

Some foreign news outlets have been covering a whistleblower’s claim that around 150 journalists will be detained as part of a new government-backed operation, but most Turkish media outlets have remained silent on the issue.

Pro-gov’t journalist suggests killing family members of jailed Gülen followers

Journalist Cem Küçük, a staunch supporter of Turkish President Recep Tayyip Erdoğan, suggested during a live TV program that Turkish intelligence should kill family members of jailed Gülen followers in order to turn the inmates into operatives for the Erdoğan regime.

Full-Fledged Hate Speech By Erdoğan: Gülen Movement Became ‘Unthinking Slaves’

Turkish President Recep Tayyip Erdoğan has added new insults to his rich collection of hate speeches and defamation targeting Gülen movement on Wednesday and said that “Gülen movement members lost their way, and only follow orders from their owner Fethullah Gülen.”

London-Based Turkish Academic To Run 10,000 Meters To Raise Fund For Purge Victims In Turkey

İsmail Sezgin, a London-based Turkish academic has tweeted on Tuesday that he will run a total of 10,000 meters in support of the families hit by an ongoing purge by the Turkish government. Releasing a statement on moneygiving.com, Sezgin said that he aims at raising a fund of 10 thousand pounds to help purge-victim families in Turkey.

Turkey’s Koç: I met with Gülen; there is nothing wrong with that

The CEO of one of Turkey’s largest conglomerates confirmed on Sunday that he met with prominent Islamic scholar Fethullah Gülen in May, but dismissed government claims of conspiracy plots.

21st century Pharaoh rises: The tragedy of Turkey’s failed coup

Recep Tayyip Erdogan, even before the coup occurred, has been seen as a dictator who has constantly sought to crackdown on his opponents, and consolidate his power within the country. Turkey has one of the worst freedoms of expression record globally, with tons of journalists imprisoned for criticizing the Turkish Government.

Latest News

Sacramento leaders gather for Iftar dinner in celebration of Ramadan

SEO Skill Suite: Tools for Keyword Research, Technical & Backlink Analysis

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

In Case You Missed It

Turkish schools holding Indonesia’s largest science olympiad

Local Muslims share Ramadan meal with each other and the community

Turkey Bars Entry Of Critics By Adding Their Names Next To ISIL Suspects

Didier Reynders welcomes a delegation of young artist of the International Festival “Colors of the World” in the Egmont Palace

The Hizmet movement and participatory democracy

Gov’t to destroy 216K math, science textbooks published by Hizmet affiliated publishers

AK Party gov’t treats critical letters, columns as ‘treachery’

Copyright 2026 Hizmet News