Turkey Seizes Control of Bank Linked to US-Based Cleric

February 4, 2015 7:31 AM

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Turkey's banking regulator has taken over control of a bank affiliated with a moderate Islamic movement which is locked in a bitter feud with the government.

The Banking Regulation and Supervision Agency said late on Tuesday that the country's saving deposit insurance fund had seized control of Bank Asya's management, appointing a new CEO and board.

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