President Recep Tayyip Erdoğan signed a decree on Thursday revoking the operating licence of Istanbul Bilgi University, a private institution founded in 1996. The decision, published in the Official Gazette, cites insufficient educational standards and the placement of the university's founding foundation under trusteeship as grounds for closure. The university's management has not commented.
The decree comes eight months after the state seized Can Holding, the conglomerate that owned Bilgi University, as part of a criminal investigation into alleged fraud and money laundering. The Küçükçekmece Chief Public Prosecutor's Office launched the probe in September 2025, accusing the group's principals of establishing a criminal organisation, money laundering, and tax evasion. Detention orders were issued for 10 individuals, including principals Mehmet Şakir Can, Kemal Can, and Kenan Tekdağ.
As part of the operation, 121 Can Holding companies were seized and placed under the management of the Savings Deposit Insurance Fund (TMSF). Among the seized assets were television channels Habertürk and Show TV, financial news channel Bloomberg HT, the Doğa school network, and Istanbul Bilgi University. Investigators stated that large sums of money of unknown origin were funnelled through Can Holding companies, transferred between entities to conceal their source, and that forged documents were used to reduce tax liabilities. Some activities were directly financed with criminal revenues, prosecutors added.
The TMSF, originally established in 1983 as a banking deposit insurance body, saw its mandate significantly expanded after the 2016 coup attempt and further broadened by legislative amendments effective January 2025. It now controls over 1,000 companies. Critics and press freedom organisations argue the fund has become a tool for political pressure against independent and opposition-linked businesses.
Uncertain Future for Students and Staff
Following the trustee appointment, Council of Higher Education President Erol Özvar had assured the public that teaching at Bilgi University would continue without interruption. It has not. Under Turkish higher education regulations, students at a closed foundation university are automatically transferred to a designated guarantor state institution. Bilgi University had previously informed T24 that Mimar Sinan Fine Arts University has served in that role since 2021. If it cannot accommodate all students, the Council of Higher Education will designate a third university to absorb the remaining students. The fate of academic staff has not been addressed in any official statement.
Istanbul Bilgi University was founded on 7 June 1996 as Turkey's fourth private foundation university. It became part of the Laureate International Universities network in 2006 before Can Holding acquired it in 2019 for $90 million. The closure marks a significant blow to higher education in Turkey, where private universities have faced increasing state intervention. The case echoes broader concerns about the rule of law and property rights in the country, which have implications for European investors and academic partnerships.
The European Union has repeatedly raised concerns about the independence of Turkey's judiciary and the use of emergency powers against businesses. The Bilgi University closure may further strain EU-Turkey relations, particularly as Brussels monitors developments in the wake of the 2025 legislative amendments that expanded the TMSF's powers. For now, the focus remains on the thousands of students and faculty whose academic and professional futures hang in the balance.
