Abdülhamit Bilici
Everybody gets upset by the anti-democratic acts, the shelving of the Constitution, the non-compliance with judicial decisions and the pressure on the business world, civil society and opposition parties.
February 6, 2015
We are beyond the limit
Gökhan Bacık
It is nonsense to discuss whether the "Hizmet movement" is good or bad or is mistaken. The political approach "We are correcting lawlessness" has been transformed into an annihilation campaign.
It is nonsense to discuss whether the "Hizmet movement" is good or bad or is mistaken. The political approach "We are correcting lawlessness" has been transformed into an annihilation campaign.
Erdoğan distorts Gülen’s NYT op-ed, says it is about Bank Asya operation
President Recep Tayyip Erdoğan has presented a distorted interpretation of an op-ed written by Islamic scholar Fethullah Gülen that was published in The New York Times, claiming the op-ed is about the takeover of the board of Islamic lender Bank Asya by Turkey's banking watchdog.
US urges Turkey to follow international legal standards in Bank Asya case
The US Department of State deputy spokesperson, Marie Harf, said that the US expects the Turkish government to follow international legal standards in Bank Asya case.
In Washington, Turkish minister highlights press freedom, bans critical journalists
Turkey's infamous press ban has been extended to Washington this week, as a Turkish minister imposed a press ban on critical journalists while stressing the press freedoms that Turks enjoy back at home.
Bank Asya incident: systemic risk and rule of law
Taptuk Emre Erkoç*
Turkey's Banking Regulation and Supervision Agency (BDDK) announced on Feb. 3 that it is transferring 63 percent of Bank Asya's preferential shares to the Savings Deposit Insurance Fund (TMSF) due to the lender's breach of the provision requiring “transparent and clear partnership structures and organization schemes that will not prevent active audit of the institution," although the Banking Regulatory Act does not allow it to do so. Furthermore, independent auditing firm Ernst and Young did not point out any sign of structural irregularities in its recent report on Bank Asya.
Turkey's Banking Regulation and Supervision Agency (BDDK) announced on Feb. 3 that it is transferring 63 percent of Bank Asya's preferential shares to the Savings Deposit Insurance Fund (TMSF) due to the lender's breach of the provision requiring “transparent and clear partnership structures and organization schemes that will not prevent active audit of the institution," although the Banking Regulatory Act does not allow it to do so. Furthermore, independent auditing firm Ernst and Young did not point out any sign of structural irregularities in its recent report on Bank Asya.
Bank Asya raid can be subjected to international rights courts
Legal expert Dr. Sami Karahan warned that the illegal and unjustifiable management overhaul of publicly traded participation bank Bank Asya may make the state liable in international courts.
Law experts urge Turkish gov’t to stop ‘playing with fire’ by sinking bank
Law experts agree that the Turkish government was “playing with fire” by illegally overhauling the management on Bank Asya, and many said that the measures would put the country’s economy at risk.
Turks living abroad return to support Bank Asya
Following Tuesday's government-orchestrated decision to take over 63 percent of Bank Asya's management, tens of thousands of citizens have flooded the bank's branches across Turkey with money, defying the political pressure.
Bank Asya CEO confident of regaining control of management
The executive chairman of Turkey's largest Islamic lender, Ahmet Beyaz -- who has been removed from his position after a banking watchdog decided to take over the management of the bank -- said on Friday that the current position of Bank Asya's board is temporary and that shareholders would take legal action against the decision since it has no legal ground according to the relevant article of the banking law.
Bank Asya partners issue written warning after overhaul
Publicly-traded Bank Asya’s founding partners issued a warning against the management overhaul, calling for the return of the board, or else they would file suit.
Unjustified takeover of Bank Asya prompts harsh rebuke from journalists
The arbitrary takeover of Turkey's largest Islamic lender, Bank Asya, has caused a backlash among journalists, who voiced concerns over disregard for the law and a free business environment, warning that a heavy toll will be exacted from the country's economy.
CHP: Bank Asya operation unlawful, banditry committed by gov’t
Main opposition Republican People's Party (CHP) parliamentary group Deputy Chairman Engin Altay has said the takeover of the management of Bank Asya by the state-run Savings Deposit Insurance Fund (TMSF), widely described as a politically motivated move designed to intimidate, is completely unlawful, saying it is a crime committed by the government.
Partisan bureaucrats involved in Bank Asya intervention
A legally flawed decision by Turkey's banking watchdog on Tuesday to hand over the management control of 63 percent of the privileged shares of Bank Asya to the state savings fund was supported by a number of controversial and pro-government board members at the banking watchdog, media outlets reported on Friday.
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