Turkish President Recep Tayyip Erdoğan has stated that the recent liquidation of 131 investment funds, which hold approximately $18 billion in assets, does not threaten the stability of the nation's broader financial system. Following his attendance at the United Nations General Assembly, Erdoğan characterized the issue as being limited to a minor segment of the capital markets. The Capital Markets Board of Turkey has initiated the liquidation process for these funds, which involve seven different asset managers and over 450,000 individual investors. Finance Minister Mehmet Şimşek noted the total value of the affected assets, though the final recovery amount for investors remains uncertain. The government has pledged to pursue legal action against those accountable for the situation and intends to implement regulatory reforms to ensure such incidents do not occur in the future.
Source : Turkish Minute
