President Recep Tayyip Erdogan has addressed the recent turmoil surrounding investment funds in Turkey, asserting that the situation does not threaten the broader national economy or financial system. Following the Capital Markets Board's decision to liquidate 131 funds managed by seven companies, authorities have launched investigations into suspected share price manipulation. Dozens of executives and fund managers have been detained as part of these legal proceedings. The government has prioritized the recovery of investor assets, with Finance Minister Mehmet Simsek coordinating technical meetings to manage the liquidation process and protect market stability. Erdogan emphasized that those found responsible will face legal consequences and promised that administrative or legislative measures would be implemented to prevent future occurrences. The crisis originated after new regulatory requirements for asset diversification triggered a wave of redemption requests that several firms could not meet.
Source : Daily Sabah
Photo : Daily Sabah
