August 14, 2014 / 7:06 AM / in 4 years

Bank Asya shares to stay suspended until uncertainty resolved -Turkish bourse

ISTANBUL, Aug 14 (Reuters) - Shares in Turkish Islamic lender Bank Asya will remain suspended until uncertainty regarding its ownership is resolved, the Istanbul stock exchange said on Thursday.

Last week, top government officials appeared to be at odds over a possible state purchase of the bank as Deputy Prime Minister Ali Babacan said state-run Ziraat Bank, which is looking to launch its own Islamic banking unit, could buy Bank Asya, but an advisor to Erdogan subsequently denied such a plan.

The bank has seen its profits and capital base collapse since December when it found itself at the centre of a power struggle between Prime Minister Tayyip Erdogan and his political foe Fethullah Gulen, an Islamic cleric whose sympathisers founded the bank.

Reporting by Ece Toksabay; Editing by Nick Tattersall

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