Ministry ends key deal with Bank Asya

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. The ministry has decided to terminate customs tax collection protocols with Bank Asya as a result of assessments made, the ministry said in a press statement released on Aug. 13. The ministry informed the lender regarding the annulment on Aug. 12 and the cancellation will take effect on Sept. 12, the statement also noted. Last week, the Revenue Administration and Social Security Institution had separately announced annulling their contracts with the lender.