Erdoğan addresses fund market concerns
President Recep Tayyip Erdoğan said after the Cabinet meeting that the issue in the fund market was limited to a small segment of the market and did not pose a risk to the broader financial system.
Erdoğan said Türkiye’s capital markets remain resilient with solid fundamentals, adding that the fund issue was discussed in detail by the Cabinet and that the justice and treasury and finance ministers presented updates on the ongoing work.
Erdoğan said the liquidation process for the funds was being carried out carefully and that investigations were continuing into individuals found to have made unfair gains through market-disruptive transactions involving funds and stocks. He added that administrative and legal measures aimed at strengthening the functioning of capital markets would be implemented swiftly to prevent similar problems from recurring and announced plans for another meeting with economic officials and heads of relevant institutions.
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