Turkish President Recep Tayyip Erdoğan has vowed to ensure economic stability and protect investors amid an ongoing investigation into suspected irregularities in the country’s capital markets. The Turkish government has initiated measures to address the situation, establishing a fully authorized board chaired by the vice president to oversee the liquidation of affected investment funds. Erdoğan also directed the State Supervisory Council to participate in this process.
The Capital Markets Board has taken decisive action by ordering certain investment funds managed by seven portfolio management companies to halt trading. Some funds are being liquidated as a protective measure for investors. This move is part of broader efforts to address concerns raised by the investigation.
Judicial actions have been taken in connection with the probe, with five individuals arrested over allegations related to capital market transactions. Prosecutors are delving into accusations including fraud, money laundering, and violations of capital markets laws.
Erdoğan emphasized the government’s commitment to holding those responsible for any misconduct accountable, assuring that the ongoing investigation would not disrupt the overall stability of Türkiye’s financial system. He noted that the problems identified are confined to a specific segment of the fund market and that institutions are implementing measures to safeguard economic stability.