One of Turkey’s largest banks closed down (UPDATE)

Türkiye Materials 18 September 2014 19:01 (UTC +04:00)

Details added (first version posted on 18:21)

Baku, Azerbaijan, Sept. 18

By Rufiz Hafizoglu - Trend:

One of Turkey's largest banks, Bank Asya, was closed down, Haber7 TV channel reported Sept. 18.

Reportedly, the bank was closed down due to depreciation of shares.

On Aug. 7, 2014 Turkey's Banking Regulation and Supervision Agency (BDDK) decided to temporarily suspend the bank's activities.

In order to restore the bank's activity its shareholders made a decision on its recapitalization, and the bank informed the BDDK about this.

On Sept. 15, the bank resumed its work.

On Sept. 18, Turkey's President Recep Tayyip Erdogan announced that the bank is on the verge of bankruptcy, dismissing allegations that the country's government is deliberately taking steps to close it down.

Earlier, it was reported that Bank Asya has close ties to Fethullah Gulen's movement.

On Feb. 25, several Turkish media outlets said the telephone conversations of some 7,000 people close to the country's ruling party, opposition parties and prime minister's family members, were wiretapped as part of an anti-terrorist operation against the members of the Salam terrorist organization in 2011.

The telephone conversations of Turkish intelligence head Hakan Fidan, the country's president and prime minister were also wiretapped under these anti-terrorist operations.

Following this Erdogan, who was serving as Turkey's prime minister at the time, accused Fethullah Gulen, a public religious figure currently living in the U.S., by saying that representatives of his movement stand behind the wiretapping of the phone conversations.

Erdogan also stressed that the Gulen movement, which he earlier called a "parallel structure", proved with its anti-state activities that it is not a religious movement, but a politicized and illegal structure.

The Turkish PM called on Gulen not to intervene in Turkey's internal affairs and accused the U.S. of supporting him.

A criminal case was initiated in Turkey against Fethullah Gulen for his coup attempt and espionage against Turkey.

Erdogan also said Gulen will be extradited from the U.S., while the U.S authorities said that Gulen's extradition is out of the question.

Edited by CN