Turkey investigates former Borsa İstanbul chief and Konyaspor addresses debt

Turkish prosecutors have launched an investigation into İbrahim Mustafa Turhan, the former Chairman and General Manager of Borsa İstanbul, regarding social media posts. The Istanbul Chief Public Prosecutor's Office alleges that Turhan's posts could cause “fear and panic” among investors regarding capital market instruments. The investigation follows a period of market volatility where the BIST 100 index fell by more than 6 percent, triggering an automatic circuit breaker.

Separately, Konyaspor President Ömer Atiker has addressed the club's significant financial challenges. Atiker reported that the club's net debt has reached approximately 2.7 billion TL, citing currency fluctuations and previously undisclosed items. To address this, the club has announced the ‘Yeşil Beyaz Sanayi Sitesi’ project, a 295,000-square-meter industrial site development. The project aims to create sustainable income through the sale of 1,510 workplaces with fixed installment plans to help reduce the club's debt burden.