Amid ongoing investigations into alleged irregularities in Türkiye’s capital markets, President Recep Tayyip Erdoğan has assured investors of the government’s commitment to economic stability and the protection of financial interests. The Turkish government has created a fully authorized board, led by the vice president, to manage the liquidation process of the affected investment funds, with the State Supervisory Council also participating in oversight.
The Capital Markets Board has intervened by halting trading and initiating the liquidation of certain investment funds managed by seven portfolio management companies. This move aims to safeguard investors while authorities conduct their investigations into potential wrongdoing within the capital market transactions.
As part of the legal proceedings, five individuals have been arrested in connection with these investigations, with prosecutors looking into accusations including fraud, money laundering, and breaches of capital market regulations. Erdoğan emphasized the government’s resolve to hold accountable those found guilty of any misconduct, ensuring that such issues do not impact the broader financial system of Türkiye.
While acknowledging the challenges, Erdoğan reassured that the identified problems are confined to a specific segment of the fund market. He reaffirmed that necessary measures are being implemented by the relevant institutions to maintain financial stability and protect the investment environment.