His words are of little comfort to around 200, 000 people, including some prominent Islamist politicians, who put their money with Ihlas.

ECONOMIST: Full of interest

Ihlas customers are unlikely to see their money again soon, if ever.

ECONOMIST: Full of interest

Turkey's new Banking Regulation and Audit Board said that Ihlas faced hopeless liquidity problems that stemmed from years of mismanagement and abuse of depositors' funds.

ECONOMIST: Full of interest