President Erdoğan evaluated the fund liquidation processes in the capital markets
Quick Look
- Under the coordination of the Presidency, the latest developments in the capital markets were evaluated; It was stated that protecting investor rights and making payments as soon as possible is a priority.
- The Fund Coordination Board was established and the State Supervisory Board started the audit process.
AI-generated summary
Why It Matters
There have been recent developments regarding fund liquidation processes in capital markets and the protection of investor rights has come to the fore.
A coordination meeting was held under the chairmanship of President Recep Tayyip Erdoğan with the participation of economic staff and senior managers of relevant institutions.
A statement was made by the Directorate of Communications regarding the issues discussed at the meeting. The explanation is as follows:
"At the meeting, recent developments in the capital markets were evaluated, and the participants provided information to our President about the studies carried out in their fields of duty and the measures taken and to be taken.
"MAKING PAYMENTS IS A PRIORITY"
Our esteemed President emphasized that his main priorities are to meticulously continue the work on the funds decided to be liquidated, to protect the rights of investors within the framework of capital market rules, and to make payments fairly, healthily and as soon as possible.
In this context:
In order to carry out the liquidation process quickly, taking into account the legitimate rights of investors and the public interest, the "Fund Coordination Board" was established under the chairmanship of the Vice President to ensure general coordination.
"AUDIT PROCESS HAS STARTED"
Upon the instructions of our President, the State Supervisory Board (DDK) has initiated the review and audit process covering the recent investment fund transactions in the capital markets.
Information was given about the process regarding the transfer of Katılımevim and Birevim Savings Finance Companies and İktisat Katılım Bankası to Türkiye Emlak Katılım Bankası.
The Capital Markets Board has presented the road map for making payments to investors whose entitlement reconciliation has been completed in the funds within the scope of liquidation, according to their assets and liquidity status.
In addition to solving the current problem, a determination has been made to implement additional administrative and legal regulations that will strengthen the functioning of capital markets and control mechanisms in order to prevent similar situations from occurring again.
Open Questions
- Who are the 구체적인 members of the Fund Coordination Board?
- When will the State Supervisory Board's audit be completed?
- What is the total amount to be paid during the liquidation process?
