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Back"Public resources will never and will never be used for fund payments."

"Public resources will never and will never be used for fund payments."

NEWS

Bloomberg HT1 hour agoBusiness1 min readTürkiye

"Public resources will never and will never be used for fund payments."

Quick Look

AK Party Group Chairman Abdullah Güler announced the new law proposal regarding fund liquidation.
Güler stated that no public resources will be used in the process and that the regulation aims to eliminate the negative effects on the capital market.

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Why It Matters

It was stated that the funds intervened by the CMB did not reflect the general market and the problem was in a limited area.

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AK Party Group Chairman Abdullah Güler announced the bill regarding fund liquidation.

In his speech while announcing the bill on fund liquidation, Güler said that the country's macroeconomic stability and financial resilience are at the highest level.

Güler emphasized that public resources will never be used in the payments to be made during the liquidation of the funds.

Stating that the funds in which the CMB intervened never showed the general picture of the markets, Güler stated that the problem occurred in a limited area in the fund market.

Pointing out that the proposed law does not introduce a general or permanent liquidation regime, Güler stated that this step would be an important step to eliminate the different impact on the capital market.

Open Questions

What is the scope of the funds to be liquidated?
What is the enactment schedule of the regulation?

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This article was originally published by Bloomberg HT.