Turkish Press Review - Wednesday, February 4, 2015

Wednesday’s newspapers focused on Turkey’s banking watchdog’s takeover of Bank Asya and a flood which trapped around 5,000 people in northwestern Turkey.

Wednesday’s newspapers focused on Turkey’s banking watchdog’s takeover of Bank Asya and a flood which trapped around 5,000 people in northwestern Turkey.

ISTANBUL - The Anadolu Agency does not verify these stories and does not vouch for their accuracy.

Most of Wednesday’s dailies dedicate their front pages to news of Turkey’s banking watchdog takeover of Bank Asya amid accusations of a purported lack of transparency.

The front page of Wednesday’s MILLIYET says: “TMSF period in Bank Asya,” using the Turkish acronym of the Savings Deposit Insurance Fund which said in a statement on Tuesday that it only took over the bank’s management and that Bank Asya would continue its banking activities as normal.

Turkey's Banking Regulation and Supervision Agency said the move was due to Bank Asya's breaching the requirements to have "transparent and clear partnership structures and organization schemes that will not prevent active audit of the institute."

SABAH ran the headline: “TMSF operation on Bank Asya,” adding that the governing body on banking funds management transferred 122 shareholders’ stakes in the troubled bank.

HURRIYET ran the headline “Operation on Bank Asya,” adding that the banking authority ruled that the Savings Deposit Insurance Fund would use 63 percent of shares belonging to the group of 122 shareholders who choose the bank's management board.

The newspaper added that a new nine-person management team has already been appointed.

AKSAM said: “Bank Asya was seized,” pointing to an alleged affiliation between the bank and Gulen movement.

The current Turkish government accuses the Gulen movement of forming an illegal foreign-linked "state within the state," mainly within the police and the judiciary, which has eavesdropped on thousands of people and sought to target the government.

Turkish dailies also covered floods in northwest Turkey.

“Disaster of the Century,” said MILLIYET running a photo showing one of the Edirne region's touristic centers underwater.

HURRIYET said on the same news that around 5,000 people were trapped in Karaagac neighborhood after the Tunca and Meric rivers burst their banks.

“It is not Pakistan but Edirne,” said STAR adding the pictures from Edirne resembled Pakistan after the Asia country was hit by a heavy flood in 2010.

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