Law No. 7596 Process and Payments for Liquidated Investment Funds

Law No. 7596 regarding investment funds, the liquidation of which was decided by the Capital Markets Board on September 17, 2026, entered into force after being published in the Official Gazette. Within the scope of the regulations made, while billions of liras in payments have been made to thousands of accounts to date, judicial investigations are also ongoing.

The liquidation process for a total of 131 investment funds belonging to 7 portfolio management companies was initiated by the Capital Markets Board (CMB) on September 17, 2026. The process became official with Law No. 7596 on "Certain Investment Funds Decided to Be Liquidated," which was adopted in the General Assembly of the Grand National Assembly of Turkey (TBMM) on October 22, and the regulation was published in the Official Gazette. With this law, new rules were introduced regarding the payment of investors' claims in funds whose liquidation has not yet been completed, the recovery of assets withdrawn from the funds, and collection from those responsible.

Türkiye İş Bankası and Ziraat Bankası were authorized on September 18 to carry out the liquidation transactions. As of October 22, while the number of funds within the scope of liquidation decreased to 47, a total of 49.7 billion liras in in-kind and cash payments were made to 55,755 accounts. Furthermore, within the framework of the new law, it was made possible to provide interim payments of up to 1 million liras to investors from the liquidation assets in funds to be determined by the CMB.

Within the scope of the judicial investigations conducted regarding the funds, legal proceedings were initiated against 404 individuals as of October 21. During this process, 88 suspects were arrested, 26 suspects were held in custody, and judicial control measures were applied to 195 individuals.