Bank Asya to sue authorities for inaction in face of smear campaign
Turkey's private Bank Asya has said it will fight authorities for not taking action even though a "massive smear campaign" against the financial institution has been ongoing for nine months. The private Islamic lender said in a statement on Thursday that it is going to fight the country's bank watchdog at court due to its silence amidst daily attacks on the bank. The statement came on a day when the Banking Regulation and Supervision Agency (BDDK) has reportedly taken over a wide range of powers at Bank Asya. The move gives the BDDK watchdog the authority to restrict or temporarily halt Bank Asya's operations, as well as to merge it with another bank.
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