Tuesday, September 13 2011 , Your time is 15:58:00
The Turkish government has said the ball is in the court of the country’s banking watchdog, regarding Islamic lender Bank Asya’s efforts to recover its collapsed capital base.
Turkey’s top finance figures will meet with a number of leading representatives of the global finance sector for the fifth Istanbul Finance Summit (IFS), which will be marked by discussions on the need for innovative means of financing.
Islamic lender Bank Asya, who has been shaken by a series of blows to its financial strength, released a statement in local newspapers to condemn the media reports it accused of conducting a “systematic smear campaign” against the lender.
Shares in Turkish participation bank Bank Asya plunged when trading resumed after a suspension of more than a month due to uncertainty regarding its ownership.
The trading of Islamic lender Bank Asya’s shares will remain suspended until a new decision has been made, the head of Turkey’s capital markets watchdog has announced.
LONDON - Reuters
Turkey-based Islamic lender Kuveyt Türk plans to issue around a $625-million sukuk in Malaysian market, considering taking shares from the attractive market that lures Middle Eastern investors
Turkish banks’ rapid credit growth and higher external debt increases downside risks in the case of extremely stressed market conditions, Fitch Ratings has said
ISTANBUL - Reuters
Turkish equities firmed on the first day of the week, boosted by lower-than-expected U.S. jobs growth raising the prospect that interest rates in the world’s biggest economy would stay low for longer.
Islamic lender Bank Asya has received another blow, as the Capital Markets Board (SPK) did not approve a 140 million-Turkish Lira sukuk issuance from the lender’s asset leasing subsidiary.
Aktif Bank, Turkey’s largest privately owned investment bank, has received regulatory approval to issue 200 million lira ($91 million) in Islamic bonds, the Capital Markets Board said.
The Turkish Banking Association expects profits in the banking sector this year to be at around the same levels as last year, General Secretary Ekrem Keskin told reporters
PARIS - Agence France-Presse
IMF chief Christine Lagarde announced on Aug. 27 she had been charged for "negligence" over a multi-million-euro corruption case relating to her time as French finance minister in 2008.
Islamic lender Bank Asya has received another blow, as the Customs and Trade Ministry has joined with two other state institutions in cancelling their contract with the bank.
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