Turkey seizes control of bank linked to US-based cleric

Turkey’s banking regulator has taken over control of a bank affiliated with a moderate Islamic movement which is locked in a bitter feud with the government. The Banking Regulation and Supervision Agency said late on Tuesday that the country’s saving deposit insurance fund had seized control of Bank Asya’s management, appointing a new CEO and board. It cited a violation of banking regulations on transparency for the bank’s seizure. The move comes amid a government crackdown on the movement led by US-based cleric Fethullah Gulen, which President Recep Tayyip Erdogan accuses of orchestrating a corruption probe last year that targeted government members.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4622804,00.html

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