Turkish President Recep Tayyip Erdoğan has reassured that Türkiye’s capital markets remain stable despite recent turmoil within a segment of the investment fund sector. Following a Cabinet meeting in Ankara, Erdoğan emphasized that while certain investment funds have faced challenges, these do not represent a threat to the overall financial system.
The Turkish government is actively addressing the liquidation of the impacted funds and is implementing strategies to avert future issues. Erdoğan also pledged that any individuals found responsible for destabilizing market activities would face legal consequences. Recent investigations, initiated by authorities earlier this month, target suspected share-price manipulation affecting several thinly traded stocks. This has led to significant losses and put pressure on some funds due to increased redemption demands.
Treasury and Finance Minister Mehmet Şimşek stated that legal proceedings are underway for those involved in these activities, and measures to sustain financial stability will continue to be enforced. Erdoğan plans to convene with economic officials and relevant institutions to evaluate the current situation and deliberate further actions to stabilize the fund market.