IslamicFinance.de

Turkey's Bank Asya will not be returned to its original shareholders after being seized by the government last year, the deposit insurance fund that now owns the bank said, adding that it would pursue liquidation if a buyer is not found within three months. Within the framework of the existing legal situation, the return of the bank to its (shareholders) is not possible, the Deposit Insurance Fund (TMSF) said on Tuesday, adding that it had given the bank a three-month deadline from Feb. 29 to find a buyer or be merged. If this is not possible, its liquidation will come on to the agenda, the TMSF said.