Turkish President Recep Tayyip Erdoğan has stated that the recent liquidation of 131 investment funds does not threaten the nation's broader financial stability. Following his attendance at the United Nations General Assembly, Erdoğan characterized the issue as a localized problem within capital markets. The Capital Markets Board has initiated the closure of these funds, which are managed by seven different firms and involve over 450,000 individual investors. Finance Minister Mehmet Şimşek estimated the total value of these assets at approximately $18.3 billion, though the final recovery amount for investors remains uncertain. The government has pledged to pursue legal action against those accountable for the mismanagement and intends to implement regulatory reforms to ensure such incidents do not recur in the future.
Source : Turkish Minute
