President Recep Tayyip Erdoğan met with his economic staff in Beştepe to evaluate the developments in the capital markets recently. The critical meeting lasted 3 hours. Directorate of Communications announced the decisions taken regarding the meeting.
“WE WILL PROTECT THE RIGHTS OF OUR CITIZENS”
Presidential Communications Director Burhanettin Duran made a statement on the issue on his social media account;
The framework put forward by our President, Mr. Recep Tayyip Erdoğan, regarding the developments in the fund markets is clear. Actions that harm our nation's rights and laws and disrupt the healthy functioning of markets will not be left unanswered; Those responsible will be held accountable before the law, regardless of their position.
While the relevant institutions carry out the investigation and liquidation processes, they also take the necessary steps to protect the rights of investors and strengthen the safe, transparent and healthy functioning of the capital markets. The main thing is to fully comply with the requirements of the law and protect the rights of our citizens.
Official statements have revealed that the problem exists in a limited part of the fund market and does not pose a risk to our financial system in general. While underlining this fact, our President clearly stated that those responsible will be held accountable before the law.
Therefore, maintaining financial stability and steadfast execution of the legal process are not alternatives to each other, but two basic elements of the same approach. While the relevant institutions implement the necessary measures against liquidity and contamination risks, investigations and investigations regarding market disruptive transactions continue; The necessary new administrative and legal regulations are being prepared.
Protecting our citizens' savings and legitimate rights is the main priority of the ongoing process. Efforts to finalize liquidation and payment transactions fairly, healthily and as quickly as possible are continued with this understanding.
The fact that the process is closely followed by our President, Mr. Recep Tayyip Erdoğan, and the institutions related to economic management act towards the same goal, shows that the issue is not limited to the current grievances. While protecting citizens' rights, strengthening regulatory and control mechanisms that will prevent the recurrence of similar problems is also addressed with the same determination.
In the face of the problems arising in the fund markets, the relevant institutions of our state act simultaneously and in a coordinated manner within the framework of their duties and authorities. Studies carried out by the Financial Stability Committee, Capital Markets Board, economic management, judicial authorities and other relevant institutions; It covers a wide range of areas, from protecting investor rights to detecting illegal transactions. In order to carry out the liquidation process quickly and healthily, taking into account the legitimate rights of investors and the public interest, the Fund Coordination Board, established under the chairmanship of our Vice President, will ensure the coordination of the process.
This multi-faceted work is being continued with the approach of our President to address the issue with determination. Completing the liquidation process in a healthy manner, revealing responsibilities and strengthening the reliable functioning of financial markets is the common goal of state institutions.
Drawing the process into political polemics and perception debates can neither overshadow the functioning of the law nor the determination to protect the rights of our citizens. The decisive factor in this issue is not the discourses; It is the right of law, transparency and our nation.
