ANKARA, Turkey – Turkey's banking regulator says a state fund has seized a bank associated with a movement led by the U.S.-based Muslim cleric Fethullah Gulen, which authorities have accused of attempting to destabilize the government.
The banking agency said late Friday the Savings Deposit Insurance Fund had taken took full control of Bank Asya, citing "problems" within its financial structure. It said the move aimed to safeguard trust and stability in Turkey's financial system.
Critics say the takeover is part of a government crackdown on the movement it accuses of orchestrating a corruption scandal in 2013 to topple it. Hundreds of police and judiciary officials suspected of ties to the movement have been dismissed.
In February, the state took over Bank Asya's management and appointed a new board of directors.