Turkish Bank Watchdog Seizes Remaining Bank Asya Shares
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Turkish regulators seized the remaining shares in Bank Asya, the Islamic lender taken over by authorities this year amid a political dispute.
The move against the bank, run by allies of an Islamic preacher who has fallen out with Turkey’s government, was announced late Friday on the website of the bank watchdog. The aim was to protect savers and ensure “stability and confidence in the financial system,” it said.