Minister Işıkhan: Unemployment Insurance Fund has nothing to do with the liquidated funds

Minister of Labor and Social Security Vedat Işıkhan made a statement about where the resources of the Unemployment Insurance Fund were used and whether they were used in liquidated funds.

Stating that he received many questions from MPs on this issue during the day, Işıkhan said that the Unemployment Insurance Fund has nothing to do with the liquidated funds.

'FUND RESOURCES CANNOT BE USED IN SPECULATIVE TRANSACTIONS'

Stating that the fund resources are evaluated according to the provisions of the Public Treasury Regulation, Işıkhan stated that these resources are kept in State Domestic Debt Securities, public deposit and participation banks and Takasbank.

Işıkhan said, "It is neither legally nor technically possible to utilize fund resources in any field other than these instruments or to use them in speculative transactions." he said.

Reminding that the Unemployment Insurance Fund was given the authority to conduct transactions through Takasbank with the regulation change made on January 19, 2022, Işıkhan stated that lending transactions have started through Takasbank as of this date.

Minister Işıkhan noted that interest rates at Takasbank are compared with deposit interest rates on every transaction day and stated that lending is carried out when Takasbank interest rates are more advantageous.

'WE CANNOT SEE TO WHOM THE MONEY WAS GIVEN'

Explaining the operation of transactions carried out through Takasbank, Işıkhan used the following statements:

"Just like when you deposit a deposit in a bank, you do not know to whom that deposit was given as a loan, Takasbank is the same for us."

Stating that all banking transactions of the Unemployment Insurance Fund are carried out by Halkbank and that Halk Yatırım acts as an intermediary institution in Takasbank transactions, Işıkhan said that due to the system, buyers and sellers cannot see each other.

Işıkhan emphasized that the transactions made through Takasbank are under guarantee and their addressee in these transactions is Takasbank.

'WE HAVE NO TRANSACTIONS WITH FUND MANAGEMENT COMPANIES'

Stating that the Unemployment Insurance Fund is regularly audited by the Court of Accounts and independent auditing institutions, Işıkhan stated that the financial statements and audit results are shared with the public.

Arguing that it can be seen in the announced reports that the fund does not have any transactions with the fund management companies in question, Işıkhan said:

"The Unemployment Insurance Fund is the sweat of our workers, it is the right of our workers. And we have not and will not allow anyone to lose even one penny of our workers' rights."

Işıkhan, MPs asked "Is unemployment insurance stuck in the funds?" He answered the question, "We do not have even one penny attached to any fund."