Turkey’s Higher Education Board (YÖK) has decided to temporarily revoke the operating license of Şehir University and transfer its administration to Marmara University as a guarantor, BBC Turkish service reported on Thursday.
“Maximum care will be shown in order to prevent any harm to the students,” YÖK’s statement said.
Former Prime Minister Ahmet Davutoğlu was one of the founders of the university, which has been struggling to repay a loan extended by the state-owned Halkbank.
Halkbank has taken the university to court, and the school’s assets have been frozen.
Davutoğlu recently launched a new party to challenge President Recep Tayyip Erdoğan’s 17-year-rule.
Erdoğan recently accused Davutoğlu, along with other former allies who started breakaway political movements, of “defrauding” Halkbank.