Turkish Parliament to debate Red Crescent Law and 2027 budget

The Grand National Assembly of Turkey (TBMM) is set to address several significant legislative items, including the Turkish Red Crescent Law and the 2027 central government budget marathon.

The proposed Turkish Red Crescent Law aims to establish the organization as the sole authority for receiving and utilizing in-kind and cash aid from international bodies, such as the International Federation of Red Cross and Red Crescent Societies, during emergencies, disasters, or conflicts. The legislation also includes provisions for cash compensation for personnel working in disaster or war zones and mandates that local Red Crescent branch presidents serve on the board of trustees for Social Assistance and Solidarity Foundations.

Additionally, the Assembly will discuss regulations regarding the liquidation of certain investment funds under the supervision of the Capital Markets Board (SPK). For investors with net investments below 1 million Turkish Liras, interim payments of up to that amount may be made from the liquidated assets. However, individuals found guilty of market fraud or information abuse will be excluded from these payments.

The 2027 budget marathon is scheduled to begin on October 21, with Vice President Cevdet Yılmaz presenting the 2027 Central Government Budget Law Proposal and the 2025 Final Accounts Law Proposal to the Plan and Budget Commission.