Turkey distributes 49.7 billion TL in fund liquidation payments

The seventh Fund Coordination Board meeting, chaired by the Vice President, reported significant progress in the liquidation of investment funds previously ordered by the Capital Markets Board (SPK). Following the liquidation of funds associated with Hedef Portföy Yönetim Şirketi A. Ş., 18 out of 31 funds were completed as of October 21, resulting in 8.9 billion TL being paid to 10,008 accounts.

Since the beginning of the process, the number of funds undergoing liquidation has decreased from 131 to 47. Total in-kind and cash liquidation payments have reached 49.7 billion TL across 55,755 accounts.

A legislative proposal is currently under discussion in the Grand National Assembly of Turkey (TBMM) to ensure the liquidation process is fair, transparent, and legally secured. Once passed, interim payment processes for remaining funds are expected to accelerate.

Authorities, including the Ministry of Justice, the Savings Deposit Insurance Fund (TMSF), and the Financial Crimes Investigation Board (MASAK), are monitoring the recovery of excessive and unfair gains. Deputy Minister of Treasury and Finance Kutluhan Taşkın has been appointed to provide daily technical oversight and inter-institutional coordination.