BİZE ULAŞIN
- Turkey’s banking regulator seized control of Bank Asya, due to transparency concerns, according to the banking watchdog.
The Savings Deposit Insurance Fund (TMSF) seized 63 percent of Bank Asya shortly after the Banking Regulation and Supervision Agency (BDDK) ruled in favour of its seizure, on Tuesday.
The banking watchdog BDDK said in a statement, that the control of the bank was siezed by the regulator, because, the bank had not presented a partnership structure that was "transparent and open enough to allow for effective regulation" regarding the Bankign Law Number 5411, on its website.
TMSF appointed Aydin Gundogdu as the new chief executive officer and board of directors to Bank Asya on Tuesday, the bank said in a filing with the Istanbul Stock Exchange late yesterday.
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