The regulator said that the reason to seize control of the bank is due to its lack of transparency in order to allow for proper regulation, reported Reuters.
According to BDDK, the bank has not presented a transparent and open partnership structure to allow for effective regulation and the partnership rights have been given to the Savings Deposit Insurance Fund (TMSF).
Last year, Turkey’s President Tayyip Erdogan urged banking regulators to take action against the bank whose founders allegedly sympathise with the US-based cleric Fethullah Gulen, reported the news agency.
Several depositors including state-owned firms have already withdrawn their funds.
The TMSF is said to have appointed a new chief executive and board of directors to Bank Asya, Bloomberg reported.
Established on 24 October 1996, Bank Asya has its head office in Istanbul and carried out its activities with 182 branches, two national and 1,300 foreign correspondent banks besides the head office units as of May 2011.
