February 12, 2015

Bank Asya raid ‘entirely political’ states Turkish Bar Associations' head

Outspoken Turkish Bar Associations’ President Prof. Dr. Feyzioğlu, states political motives behind the February 3 police raid on Bank Asya and the management overhaul “are crystal clear.”

Widespread condemnation has rained on the government, the Banking Regulation and Supervision Agency (BDDK) and the Savings Deposit Insurance Fund (TMSF), over the illegal and unjust takeover of publicly traded participation bank Bank Asya’s management, which came amid months of defamatory statements against the bank from pro-government press and President Recep Tayyip Erdoğan.

Union of Turkish Bar Associations President Metin Feyzioğlu is the latest to weigh in, reminding that the speculative and defamatory statements from Erdoğan, such as when he outright stated “that bank has failed” and pro-government outlets, who speculated that the bank’s capital adequacy ratio could fall prompting a takeover from the fund, even though Bank Asya had enjoyed the best ratio among banks, went unpunished even though it violated Capital Markets Laws and Regulation. “We had borne witness to the president of the country, during his prime ministry, recklessly making statements which could cause a bank to fail. If any ordinary citizen had made such remarks they would have been handcuffed immediately,” underlined Feyzioğlu.

He added “A responsible individual would never make such statements which could cause a systemic chain reaction. If the state had any doubts it should use its authority and investigate and proceed accordingly.”

The Bar Associations President also slammed the excuse the BDDK used to try to justify its take over the bank, that Bank Asya was suffering from a lack of trasparency. “After 15 years is it now occurring to them to ask questions regarding shareholder structure,” said Feyzioğlu, mocking the dubious reasoning behind the takeover.

Metin Feyzioğlu also called upon an end of the deep political divide in the country, “Every political fraction in Turkey has enjoyed a rule and time as opposition, engaging in tyranny when ruling, and being persecuted while in opposition. However tyranny never ended in Turkey, enough is enough.”

Published on BGNNews,12 February 2015, Thursday