Turkey: Bank Asya fined $5.14 mln for unpaid tax

ANKARA

Islamic lender Bank Asya has been fined 15 million Turkish lira ($5.14 million) for unpaid taxes with additional fines, according to a stock exchange filing by the bank on Wednesday.

The Finance Ministry's tax authority imposed the fines after examining the bank's accounts for 2010, 2011 and 2012, the filing said.

“We will use all of our legal rights with respect to tax," the lender also said in the statement.

On May 29, Turkey's Banking Regulation and Supervision Agency (BDDK), the country’s banking watchdog, ruled for the complete takeover of all shares of Bank Asya by the Savings Deposit Insurance Fund (TMSF).

The bank’s shares opened at Tuesday’s closing prices 0.60 Turkish lira and it was trading unchanged at 11.00 am local time [0900GMT].