US looks to see legal standards applied in Turkey's economy

The United States wants all governments to ensure the monitoring of corporate and financial activity is done in line with international legal standards, said deputy spokesperson of the U.S. Department of State Marie Harf on Feb. 5, upon a question about the seizure of a Turkish bank by a government body. 

?Well, obviously this is a Turkish issue, so the Turkish authorities are probably best to speak to this specific case. But broadly speaking, we look to governments, including Turkey, to ensure that monitoring of corporate and financial activity is done in accordance with international legal standards,? she said. 

Turkey?s state-run Savings Deposit Insurance Fund (TMSF) on late Feb. 3 seized control of Bank Asya, which is linked to President Recep Tayyip Erdo?an?s former ally-turned nemesis, U.S.-based Islamic scholar Fethullah Gülen.

The ousted chief executive of the bank on Feb. 6 said the deposed leadership was appealing the ?illegal? decision in court, as Agence France-Presse (AFP) reported. ?We trust the judicial system. We have to trust it. Our only option is to go to court,? Ahmet Beyaz, the ousted chief executive of Bank Asya, told AFP in an interview.

?Our shareholders went to court and opened a case. We?ll have to wait for some time before a decision. That?s our only option now,? he said. 

The TMSF took control of the bank, citing a lack of transparency. The opposition denounced the move, but Turkish Prime Minister Ahmet Davuto?lu has insisted that it was not political, but a judicial move. 

?Everyone is going to see that this is illegal. I cannot say if it?s political or not, I only can say this is not legal,? Beyaz told AFP. 

He pointed out that Bank Asya is not a small bank. ?We have around 4...