Turkish President Recep Tayyip Erdoğan affirmed the resilience of Türkiye’s capital markets, emphasizing that recent issues in the investment fund sector are contained and do not threaten the broader financial system. Following a Cabinet meeting in Ankara, Erdoğan addressed the situation, noting that the challenges are confined to a specific segment of the fund market. He assured that authorities are actively taking measures to safeguard financial stability and protect investors.
Erdoğan highlighted the government’s efforts in managing the liquidation of the affected funds and detailed plans to implement strategies that would prevent similar occurrences in the future. He also vowed to pursue necessary legal actions against those responsible for destabilizing market activities.
These statements come in the wake of investigations launched earlier this month into potential share-price manipulation involving several thinly traded stocks. The resulting developments have led to losses and increased pressure on some investment funds to redeem assets.
Treasury and Finance Minister Mehmet Şimşek has reiterated that legal proceedings are ongoing against those implicated in these activities. Şimşek assured that measures to maintain financial stability will be upheld.
Looking ahead, Erdoğan is scheduled to convene with economic officials and relevant institutions to evaluate the current situation further and discuss additional measures for the fund market.