Statement from the Directorate of Communications regarding the Fifth Fund Coordination Board Meeting

It was reminded that the proposal of the law, which will ensure the fair, transparent and effective execution of the liquidation process in some investment funds decided to be liquidated by the Capital Markets Board and the legal guarantee of the payments, was presented to the Presidency of the Turkish Grand National Assembly on October 9, by the Presidency's Directorate of Communications, at the Fifth Fund Coordination Board Meeting, and it was stated that the proposal is envisaged to be discussed in the Grand National Assembly of Turkey Planning and Budget Commission on October 14.

In the statement made on the social account of the Directorate of Communications, it was stated that the Fifth Fund Coordination Board Meeting was held under the chairmanship of Vice President Cevdet Yılmaz.

In the statement, it was stated that 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:

"The bill that will ensure that the Board carries out the decisions of the previous meeting, that the liquidation process is carried out in a fair, transparent and effective manner in some investment funds decided to be liquidated by the Capital Markets Board, and that the payments are provided with legal assurance, was submitted to the Presidency of the Turkish Grand National Assembly on October 9. It is envisaged that the proposal will be discussed in the GNAT Plan and Budget Commission on October 14. At this stage, last week, Ziraat Bank invested 43 thousand in the funds managed by A1, Bulls and Pardus. A total of 6.4 billion lira has been paid to 643 investors. Within the scope of the remaining 49 funds of these 3 portfolio management companies, it is aimed to complete the liquidation process in the amount of 34.1 billion lira by the end of this week. On the other hand, the liquidation in kind and in cash amounting to 45 thousand 745 people in a total of 66 separate investment funds in the 3 portfolio management companies will be completed. "The aim is to complete the interim payments for the other 65 funds in the liquidation process immediately."