IslamicFinance.de

Publicly traded Islamic bank Bank Asya’s owners have launched 100 cases against the seizure by regulators, with lawyer Süleyman Ta?ba? emphasizing that lawsuits can also be filed on behalf of the 18,000 shareholders corresponding to the B Group shares. Ta?ba? said that the number of cases may reach 110 with the main case file reaching 500 pages, pointing out that the B Group shareholders will also have the opportunity to file cases until the legal deadline expires in the next 35 days. The lawyer also said that a criminal complaint will be filed with the prosecutors against the bureaucrats working at the regulatory agencies who took part in the seizure of the bank and its management.

Speaking in the aftermath of the Banking Regulation and Supervision Agency’s seizure of publicly traded Islamic lender Bank Asya, Lawyer Süleyman Ta?ba? vows that the continued illegal measures were political and illegal. He states that the unjust seizure will inevitably come to an end, even if it means going to the European Court of Human Rights (ECtHR). Ta?ba? also expressed that the takeover was an attempt to incite panic and cause a run to the bank, calling for the customers to display the same solidarity as in the aftermath of February 3 measure. Banking sector experts warn that illegal bank takeovers have cost Turkey dearly in international courts.

Bank Asya’s lawyer Süleyman Ta?ba? vows to challenge the Finance Ministry's Financial Crimes wing (MASAK) and the banking regulator calling for return of shares. Acting upon information that the Finance Ministry's Financial Crimes Investigation Board (MASAK) was engaged in concocting a report that would cast negative light on publicly-traded Bank Asya, Süleyman Ta?ba? has filed a letter to MASAK stating that only the Banking Regulation and Supervision Agency (BDDK) and the Capital Markets Board (SPK) had authority. Adding that the incident constituted to an unconstitutional profiling of Bank Asya the lawyer vowed to defend the rights of the shareholders.