IslamicFinance.de

Turkey plans to sell Islamic lender Bank Asya by the end of May and will liquidate it if a buyer is not found, Sakir Ercan Gul, chairman of the Savings Deposit Insurance Fund (TMSF) that controls the bank said. Gul said that some of the bank's partners have accepted it, some of them have not. The bank will be sold in any case, he added. Last year the government seized the assets of Bank Asya, saying its financial structure and management presented a threat to the financial system, and took over more than 20 companies with ties to Gulen.