Shareholders vow to challenge seizure of Turkey’s Bank Asya
Regulators announced on Friday they would take over the lender, saying its financial structure and management presented a threat to the financial system. Shareholders of the bank will bring charges against both the banking watchdog and Turkey's insurance deposit fund, lawyer Suleyman Ta?ba? said. The lawyer disputed that the latest regulatory action had been done to protect depositors, noting that Asya was profitable again. The editor of the Gülen-affiliated Zaman newspaper said he was concerned about further arrests and seizures of businesses with links to the cleric. Shares of Bank Asya were suspended temporarily on the Istanbul watchlist market on Monday after Friday's seizure of the bank, the Istanbul bourse said.
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