IslamicFinance.de

Turkey’s stock exchange prolonged a freeze on Asya Katilim Bankasi AS’s shares, a day after it twice suspended trading in the Islamic lender. Bank Asya swung between losses and gains of as much as 11% before Borsa Istanbul called the halt because of “abnormal” buy and sell orders on Thursday. The shares had resumed trading on 15 September after a five-week suspension. The bank fell 48% in the three days through 17 September. Meanwhile, the president this week called for Turkey’s banking regulator to take action on Bank Asya, citing deteriorating finances. On the other hand, Bank Asya issued a statement earlier this week saying that it was facing an “economic lynching campaign” and continued to carry out its responsibilities to depositors and shareholders.