Bank Asya seeks restart of suspended trading

Turkish Islamic lender Bank Asya, whose shares were suspended and removed from all indices on Aug. 7 amid political pressure, will ask the authorities to end a month-long trading suspension, CEO Ahmet Beyaz said. Beyaz's statement comes on the heels of reports in the media last week that Turkey's banking watchdog the Banking Regulation and Supervision Agency (BDDK) had put Bank Asya under close monitoring. The reports claimed this would give the BDDK the power to restrict or temporarily halt Bank Asya's operations. Bank Asya said it will file a lawsuit against the watchdog for remaining indifferent to a smear campaign against the bank. Beyaz also said that Bank Asya would consider selling stakes or subsidiaries in case of a capital adequacy problem.