Statement from the Directorate of Communications regarding the 8th Fund Coordination Board Meeting

The Presidency's Directorate of Communications announced that the first interim payments for the funds within the scope of extraordinary liquidation, the processes of which were clarified with the Law No. 7596 adopted by the Turkish Grand National Assembly and the relevant Capital Markets Board (CMB) procedural and main Decision, are expected to start on Friday, October 30, 2026.

In the statement made by the Presidency, it was stated that the 8th Fund Coordination Board Meeting was held under the chairmanship of Vice President Cevdet Yılmaz.

It was stated that representatives of the Ministry of Justice, the Ministry of Treasury and Finance and the relevant institutions and organizations of these ministries attended the meeting, and the following was noted:

"Based on the previous Fund Coordination Board decisions, the Law on Certain Investment Funds Decided to be Liquidated, dated 22 October 2026 and numbered 7596, which will ensure that the liquidation process of some investment funds decided to be liquidated by the CMB is carried out in a fair, transparent and effective manner and that the payments are legally secured, entered into force by being published in the Official Gazette on 27 October 2026. Within the scope of Law No. 7596, the Capital Markets Board's decision on 27 October With the Decision No. 76/1903 dated 2026, the procedures and principles regarding liquidation and payments were also determined.

Regarding the liquidation procedures of the funds founded by Hedef Portföy Yönetimi A.Ş., whose liquidation payments started with the CMB's decision dated October 15, 2026, the liquidation procedures of 27 of 31 funds have been largely completed as of October 23, 2026. In this context, 27.2 billion lira was paid to a total of 26 thousand 152 accounts. Work on the liquidation of the remaining 4 funds of the group in question continues. Thus, the number of funds that have been in the liquidation process since the beginning decreased from 131 to 38, and a total of 68 billion liras in kind and cash liquidation payments were made to 71 thousand 899 accounts."

In the statement, it was stated that refunds to the accounts established at the Savings Deposit Insurance Fund (TMSF) continued, and the following information was included:

"MASAK meticulously continues its international studies on the companies subject to fund investigation, persons suspected of manipulation, and the real beneficiaries of suspicious transactions and funds. It is envisaged that the first interim payments will begin on Friday, October 30, 2026, regarding the funds within the scope of extraordinary liquidation, the processes of which have been clarified with the Law No. 7596 adopted by the Turkish Grand National Assembly and the relevant CMB procedural and main Decision. On the other hand, technical preparations are being made on the draft Law Proposal, which will include structural steps in order to avoid similar problems again. "The draft, which will be matured in consultation with sector stakeholders, will be submitted to the discretion of our Assembly."