Skip to content
Subscriber Only

Turkey’s Erdogan Exerts Power with Seizure of Bank Asya

Updated on

Turkey’s banking regulator took control of Bank Asya, stepping up a year-long campaign against the Islamic lender a day after self-exiled Muslim cleric Fethullah Gulen criticized the government from his base in the U.S.

The Savings Deposit Insurance Fund, or TMSF, the agency responsible for resolving failed banks, appointed a new chief executive officer and board of directors late Tuesday, the bank said in a filing.