Preparation of 10-Article Bill for Investors Affected by Fund Crisis
A 10-article legislative proposal is being prepared for investors harmed by the fund crisis in capital markets. Small investors will be paid in the first stage.
The AK Party is preparing a legislative proposal of approximately 10 articles to remedy the grievances of investors affected by the fund crisis in capital markets. While the proposal is expected to be submitted to Parliament, liquidation and phased payment processes for millions of liras in receivables are becoming clear.
Parliamentary Process of the Legislative Proposal
The approximately 10-article legislative proposal prepared for the payment of receivables of investors affected by the fund crisis in capital markets includes regulations regarding the liquidation of funds and repayments.
Number of Investors and Small Investors
While it is stated that the total number of investors affected by the fund crisis is 455,578 or, according to MKK data, 455,758, approximately 350,000 of these individuals have investments of less than 1 million liras in the funds.
Phased Payment Plan and Banks
It is planned that receivables below 1 million liras will be paid gradually and in phases within this month, and it was reported that the payments will be made through İş Bankası and Ziraat Bankası.
No Public Funds Will Be Used
It was emphasized that no public resources will be used in the process, and payments will be met directly through the liquidation of the funds' own assets and the assets of those responsible.
Principal and Inflation Difference
According to the regulation, it is planned to pay investors the inflation difference in addition to the principal amount they invested, and within this scope, securities and real estate will be converted into cash.
Capital Markets Board Decisions
The Capital Markets Board had decided on September 17 to liquidate a total of 131 funds belonging to 7 portfolio management companies, and work on this process is ongoing.
Judicial Investigation and Measures
Minister of Justice Akın Gürlek announced that within the scope of the ongoing investigation, 85 suspects were arrested, legal action was taken against 207 people, and injunctions were placed on their assets.