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BackObjection to the fund offer from aggrieved attorneys: 'There is no capital assurance'
Objection to the fund offer from aggrieved attorneys: 'There is no capital assurance'
Developing
Cumhuriyet50 minutes agoPolitics1 min readTürkiyeView original

Objection to the fund offer from aggrieved attorneys: 'There is no capital assurance'

Quick Look

  • The bill on fund liquidation will be discussed in the Turkish Grand National Assembly Planning and Budget Commission tomorrow.
  • The proposal was criticized for allowing an interim payment of up to 1 million TL and not providing a guarantee of date and full compensation, and was found inadequate by the deputies who were aggrieved by the fund.
  • The aggrieved attorneys requested principal payment guarantee, September 16 reference price as basis, withholding tax collected in a pool and retrospective investigation of suspicious transactions.

AI-generated summary

Why It Matters

The bill on fund liquidation has been prepared to be discussed in the GNAT Planning and Budget Commission. The offer only allows for interim payments up to 1 million TL and does not guarantee a date for payments and full compensation.

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The bill on fund liquidation will be discussed in the Turkish Grand National Assembly Planning and Budget Commission tomorrow. Offer; It became the focus of criticism because it only allowed interim payments up to 1 million TL and did not guarantee a date for payments and full compensation. Before the commission discussions, it was learned that the proposal caused objections among the MPs who were victims of the fund.

THEY FOUND IT INSUFFICIENT

According to the information obtained, deputies from AKP and MHP who had their own or their families' savings in the funds found the offer insufficient in terms of resolving their grievances. The focus of the objections was the demand for assurance regarding the repayment of the entire principal. Victim representatives state that "Any political discourse that does not guarantee principal payment will not satisfy the citizens."

'ALL SUSPICIOUS TRANSACTIONS SHOULD BE INVESTIGATED RETROSPECTIVELY'

The expectations of the victim MPs were grouped under four headings. The primary demand was to protect savers' entire principal and provide full assurance for loss-free repayment. It was also requested that the second paragraph of Article 4 of the proposal be changed. It was stated that the payments should be based on the September 16 reference price before the liquidation, instead of the current prices that have lost value. Another demand was that the 17.5 percent withholding tax deducted from ill-gotten gains should be collected in a pool and used as a source of additional payment to the victims. In addition, it was requested that all suspicious transactions that resulted in extraordinary profits be investigated retrospectively.

What to Watch

AI outlook — possibilities, not facts

  • The Grand National Assembly of Turkey Planning and Budget Commission will change the proposal in line with the demands of the aggrieved MPs.

    Possible · Within days

Open Questions

  • When will the proposal be accepted?
  • How will the demands of the victimized representatives be met by the commission?
  • How will the withholding pool be created and distributed?

Related Topics

This article was originally published by Cumhuriyet.

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