Bank Asya's banking operations suspended

Turkish Deposit Insurance Fund says Islamic lender Bank Asya's banking operations have been temporarily suspended

Bank Asya's banking operations suspended

World Bulletin / News Desk

Turkish regulators on Monday temporarily suspended Islamic lender Bank Asya's banking operations in the country, the Turkish Deposit Insurance Fund (TMSF) said in a statement.

The move came after the tender for the sale of the bank did not attract any bids on Friday, according to the Fund. 

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 affiliated with U.S.-based cleric Fetullah Gulen, whom Turkish authorities accuse of leading a clandestine parallel state to undermine the Turkish government. The Turkish government said the failed coup on Friday was organized by Gulen's followers.

On May 29 last year, Turkey's Banking Regulation and Supervision Agency (BDDK), the country’s banking watchdog, ruled for the complete takeover of all shares of Bank Asya by TMSF.

Güncelleme Tarihi: 18 Temmuz 2016, 11:50