Bank Asya’s banking license cancelled over Gülen links

ANKARA – Anadolu Agency

Turkish regulators have cancelled the banking license of Islamic lender Bank Asya, the bank has said in a statement to the Public Disclosure Platform.

The Turkey’s Banking Regulation and Supervision Agency’s decision (BDDK) came after the Turkish Deposit Insurance Fund (TMSF) temporarily suspended Bank Asya’s banking operations on July 18.

The sale of the bank did not attract any bids on July 15, according to the TMSF. The tender was for the sale of a minimum 183.6 million “A” group shares, amounting to 51 percent of the bank.      

Bank Asya is a participation bank once affiliated with U.S.-based scholar Fethullah Gulen, who the Turkish authorities accuse of heading a clandestine “parallel state” to undermine the Turkish government.

Ankara also says the failed attempted military coup of July 15 was organized by Gülen’s followers.

On May 29 last year, the BDKK, the country’s banking watchdog, ruled for the complete takeover of all shares of Bank Asya by the insurance fund.