Bank Asya, which is known for its links to the Gülen Movement, has been fined TL 15 million ($5.14 million) for unpaid taxes, 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 taxing," the lender also said in the statement.

 On May 29, the 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) due to the bank's failure to fulfill its obligations. 

The BDDK said back in May that the bank's profits and capital base had collapsed despite being put under the scope of Article 70 of the banking law that regulates the BDDK's intervention in troubled banks.

 The BDDK added that the troubles in [Bank Asya's] financial structure, administration and operations pose risks for depositors, as well as the security and stability of the financial system.Moreover, in May, the BDDK's audit report on Bank Asya revealed that the bank's privileged shareholders signed blank transfer contracts and a large number of shady transactions were carried out. The audit report, which was addressed during the 4.5-hour meeting of the BDDK, revealed that 40 percent of the bank's privileged shareholders signed blank transfer contracts, making the bank's shareholding structure questionable. Pointing to the deterioration of the bank's financial structure, the report said that the assets of the bank shrank considerably.

 After 63 percent of stakes belonging to the bank's A group shareholders were transferred to the TMSF with the exception of dividends on Feb. 3, the BDDK launched an investigation into the bank, finding a number of dubious transactions in investigations carried out by financial crimes specialists and the financial crimes unit of the police department.In addition, the international credit rating agency Fitch said in June that Turkey's banking sector would not be significantly affected by the takeover of Bank Asya. 

"The Turkish banking sector as a whole, and its participation [Islamic] banks in particular, should not be significantly affected by the transfer last Friday of control over Asya Katılım Bankası to the Savings Deposit Insurance Fund," the agency said in a statement Wednesday.

 The agency pointed out that Bank Asya was a relatively small part of the overall Turkish banking system, with a market share of around 1 percent, adding, "But the bank was the largest participation bank before the onset of its problems in 2014."