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Turkey’s Bank Seizure Highlights Erdogan’s Growing Ambition

Turkey’s banking watchdog has transferred control of Bank Asya to a state-run fund, purging its executives with a decision that effectively hands over the Islamic lender to the government.   Banking regulators seized control of Bank Asya citing a lack of transparency in its operations.  The seizure is being seen as the latest chapter in a bitter feud between President Recep Tayyip Erdogan and U.S.-based Turkish cleric Fethullah Gulen and his Hizmet movement. While Bank Asya...

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