Liquidation process in the fund investigation and developments in the markets

Following the Cabinet Meeting, important messages were given regarding the fund investigation, and steps to be taken to address the state of the financial system and resolve investor grievances were discussed.

Messages After the Cabinet Meeting

President Recep Tayyip Erdoğan gave clear messages regarding the fund investigation following the Presidential Cabinet Meeting, stating that the state will stand against those who reach out for the property of the nation.

In the evaluations made, it was emphasized that the current fund crisis does not pose a systemic risk to the financial system and that all necessary steps will be taken within the framework of law.

Borsa İstanbul and Market Movements

Economist Üzeyir Doğan stated that following the fund crisis, Borsa İstanbul experienced a withdrawal of approximately 5 trillion liras in total market value.

It was stated that the MSCI evaluation in November and statements from international index providers are of critical importance for the markets.

Investor Grievances and Solution Proposals

It was noted that those who entered the system with money equivalent to an average house or gold are the real victims, and it is not right to shift the responsibility onto the investor.

It was conveyed that a fund liquidation pool should be established immediately to resolve the grievances of investors, and comprehensive plans could be seen by Wednesday.

Need for New Regulation and Supervision

It was expressed that a new era and structure are needed in capital markets, and in this context, a regulatory mechanism similar to the Banking Regulation and Supervision Agency is essential.

It was reported that, just as past crises were overcome with state resources, missing regulations will be completed rapidly in this process, and investigations will be conducted regarding those responsible for the conspiracy.