IslamicFinance.de

Turkish regulators have cancelled the banking license of Islamic lender Bank Asya. The Turkish Banking Regulation and Supervision Agency’s decision (BDDK) came after the Turkish Deposit Insurance Fund (TMSF) temporarily suspended Bank Asya’s banking operations on July 18. According to the TMSF the sale of the bank did not attract any bids on July 15. The tender was for the sale of a minimum 183.6 million A group shares, amounting to 51% of the bank. Bank Asya is affiliated with Fethullah Gulen, who the Turkish authorities accuse of heading a clandestine 'parallel state' to undermine the Turkish government.

The Turkish Deposit Insurance Fund (TMSF) announced it would temporarily suspend operations in Bank Asya, which is closely associated with the cleric Fethullah Gulen. Turkish President Recep Tayyip Erdogan blamed Gulen and his supporters for the coup attempt on Friday in which more than 200 people have been killed. The coup attempt was suppressed by early Saturday as 103 army generals and admirals were detained. The arrests now amount to a third of the country’s top military officials.