Critical Meeting Held in Dolmabahçe for Fund Victims
At the summit held with the participation of President Erdoğan, the rapid payment of receivables below a certain amount and the removal of certain funds from the liquidation list were discussed.
Payments to fund victims were addressed at a meeting chaired by President Erdoğan in Dolmabahçe; rapid payments are planned for investors with receivables of less than 1 million TL.
Primary Agenda of the Meeting
Payments to fund victims were comprehensively addressed at the meeting held in Dolmabahçe under the chairmanship of President Erdoğan.
Details of the Rapid Payment Plan
During the meeting, emphasis was placed on the plan to quickly pay the money of investors with receivables of less than 1 million TL.
It is anticipated that investors in money market funds, in particular, will be evaluated on a priority basis.
Financing Sources Determined
It is planned to use the collateral held at Takasbank and the funds invested by the funds in Government Domestic Debt Securities to finance the payments.
Changes to the Liquidation List
The liquidation process of certain funds was also brought to the agenda at the meeting, and the possibility of removing a total of 66 funds from the liquidation list is being evaluated.
15 funds belonging to Bulls, 42 funds belonging to Pardus, and 9 funds belonging to A1 Capital have notified the relevant authorities that they can pay back investors' money.
Bank-Affiliated Status and Final Steps
No clear decision has yet been made regarding the banks to which the fund companies are affiliated.
Economic bureaucracy is expected to reconvene on Tuesday to finalize decisions regarding the payment plan and other topics.
CMB Decisions and Number of Investors
It had previously been decided by the CMB to liquidate 131 funds belonging to 7 portfolio management companies.
It was previously announced that the total number of investors in these funds was 455,758.