Bill on Liquidation of Investment Funds Approved by Committee

The bill regarding investment funds decided to be liquidated was approved in the Grand National Assembly of Turkey (TBMM) Planning and Budget Committee. The liquidation process amounting to 40.5 billion liras is anticipated to be completed by the end of this week.

Details of the Bill Approved in the Committee

The bill regarding investment funds decided to be liquidated was discussed and approved in the TBMM Planning and Budget Committee.

Payments Made to Investors

AK Party Samsun Deputy Ersan Aksu stated that 6.4 billion liras had been paid to 43,643 investors in 66 separate investment funds.

It was stated that if the current cash is insufficient, payments will be made starting from the investors with the lowest net investment amount.

Will Not Burden the Public Budget

It was stated that the regulation will not place a burden on the public budget, and payments will be covered by the funds' own assets and amounts to be collected from those responsible.

Voluntary Refund Mechanism

While a voluntary refund mechanism was introduced for those who exited the fund by generating gains over untrue values, it was emphasized that this would not mean an amnesty.

Judicial Process and Investigations

Within the scope of the fund investigations, action was taken against 282 people, while 84 people were arrested and their assets were confiscated.