Hi,
That’s the Kut Al Amara siege clasp for the Ottoman WW1 medal (Harp Madalyası aka Gallipoli Star), so it probably says just that, Kut'ül Ammare Kuşatması. For confirmation you could consult a recent publication (2012), the Turkish War Medal, by M. Demir Erman, in Turkish and English.
Andreas
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