Discussions Completed in Parliament for Investment Funds Decided to Be Liquidated
The legislative proposal regarding the processes of 131 investment funds liquidated by the Capital Markets Board has been discussed and concluded in the TBMM Plan and Budget Committee.
The discussion processes in the TBMM Plan and Budget Committee regarding the legislative proposal concerning 131 investment funds whose liquidation was decided by the Capital Markets Board have been successfully completed. With the regulation, it is aimed to make interim payments of up to 1 million liras to investors and to fully guarantee the liquidation process.
Purpose and Scope of the Legislative Proposal
The legislative proposal prepared regarding 131 investment funds whose liquidation was decided by the Capital Markets Board was addressed in Parliament.
With the proposal submitted to the Presidency of the TBMM on October 9, it is aimed to carry out the liquidation process transparently and to secure the payments legally.
Statements from the Deputy Minister
Deputy Minister of Treasury Hatipoğlu stated that extraordinary liquidations are needed in order for investor rights to reach their owners swiftly.
It was stated that 48 separate requests were made from 29 different countries by MASAK and that the process of bringing assets into the country is being closely monitored.
Interim Payments to Be Made to Investors
Within the scope of the regulation, it is planned to base interim payments to investors on the net investment amount.
While those who have previously fully recovered their principal are excluded from the scope, those with a portion remaining in the fund will be able to receive interim payments of up to 1 million liras.
Payment Sources and SDIF Authorities
It was reported that public resources will not be used in payments, and that fund assets and refunds of unjust gains will serve as the source.
Granting additional powers to the Savings Deposit Insurance Fund specifically for the liquidation process is also included in the proposal.
Providing Priority to Small Investors
It is envisaged that payments will be carried out starting from small investors using the first-in, first-out method.
It was stated that individuals determined to have engaged in unlawful transactions will be excluded from the payment scope.
Liquidation Targets and Realized Payments
According to the statement by the Fund Coordination Board, payments were made to investors in the funds of three companies via Ziraat Bank.
It is planned to complete the in-kind and cash liquidation processes for over 45 thousand investors in a total of 66 funds.