Derya Gürerk, the Chief Executive Officer of Türkiye Finans Participation Bank, submitted his resignation on Friday amid news reports published on several media outlets claiming that he was involved in corruption.
The corruption allegations published in a Turkish finance website claimed that Mr. Gürerk had assigned his friend Hüseyin Cankurtaran's company (Standart Değerleme) as a mediator in the purchase of a 200 million Turkish Lira ($73.6 million) worth plot for the building of the bank's new headquarters in Istanbul's finance center.
The bank said in a statement released on its website that Executive Vice President Osman Çelik will temporarily take the reins while the bank looks for a permanent replacement.
Gürerk was serving as CEO of Türkiye Finans Participation Bank and was a board member since June of 2011.
Gürerk also serves as the Board President of Participation Banks Association of Turkey, which brings together banks applying Islamic finance principles for their products and services. Gürerk has not announced his resignation from this post so far.