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39 clusters · 329 sources · 120 days · First seen · Last updated

Turkey fund liquidation: Legislative and legal developments

Overview

The Turkish investment fund crisis has entered an active recovery and legal enforcement phase. Following the mid-September 2026 market volatility, the Fund Coordination Board has advanced liquidation processes. Ziraat Bank has completed the liquidation of 66 investment funds managed by A1, Bulls, and Pardus, distributing approximately 40.8 billion TL to more than 45,000 individuals. This reduces the total number of funds undergoing liquidation from 131 to 65.

On October 14, the TBMM Plan and Budget Commission accepted a legislative proposal regarding the liquidation of certain investment funds. This process is supported by Law No. 7596, which entered into force on October 27, 2026, to ensure fair, transparent, and legally secure liquidation and payments. The regulation aims to provide legal security for payments and establish procedures for recovering assets lost through unlawful means. Under the proposal, interim payments are capped at the full investment amount for those with net investments under 1 million TL, while those with 1 million TL or more are capped at a 1 million TL interim payment. The Capital Markets Board (SPK) will oversee the process, and the Savings Deposit Insurance Fund (TMSF) may be appointed as a trustee.

Liquidation efforts have accelerated. Following the eighth meeting of the Fund Coordination Board, chaired by Vice President Cevdet Yılmaz, the number of funds undergoing liquidation has dropped from 131 to 38. Total distributions have reached 68 billion TL across 71,899 accounts. Regarding Hedef Portföy Yönetim Şirketi A. Ş., the liquidation of 27 of 31 funds was largely completed by October 23, 2026, distributing 27.2 billion TL to 26,152 accounts. Interim payments for extraordinary liquidation funds are scheduled to begin on October 30. Meanwhile, the Financial Crimes Investigation Board (MASAK) continues international investigations into suspected manipulators and beneficiaries.

Entities

Borsa İstanbul · Capital Markets Board of Turkey · Turkey · Capital Markets Board · Sermaye Piyasası Kurulu

Claims

What the coverage asserts, and how many sources carry each claim.

Timeline

  1. [POLITICS] 2 sources
    Turkey investment fund crisis impacts political landscape

    A survey identifies the investment fund and stock market crisis as Turkey's top economic concern, while political figures claim the crisis has caused a 6-point drop in AKP support.

  2. [BUSINESS] 23 sources
    Turkey begins interim payments for investment fund liquidation

    Turkey has started interim payments of up to 1 million TL to investors as the liquidation of 131 investment funds progresses, with 68 billion TL already distributed to over 71,000 accounts.

  3. [POLITICS] 57 sources
    Turkey Justice Minister addresses investment fund investigations

    Justice Minister Akın Gürlek stated that voluntary repayments in fund investigations do not eliminate legal liability and emphasized protecting well-intentioned investors.

  4. [BUSINESS] 2 sources
    Turkey distributes 49.7 billion TL in fund liquidation payments

    Turkey has paid 49.7 billion TL to 55,755 accounts through fund liquidations, reducing the number of funds in process from 131 to 47.

  5. [BUSINESS] 44 sources
    Turkey passes law to liquidate troubled investment funds

    Turkey's parliament has legalized a bill to liquidate troubled investment funds, aiming to recover assets and provide interim payments to investors while expanding coverage to include blocked redemption orders.

  6. [BUSINESS] 12 sources
    Turkey investment funds crisis triggers Borsa Istanbul decline

    A liquidity crisis in Turkish investment funds has triggered significant losses in Borsa Istanbul, with the IPO index dropping nearly 54% and 131 funds facing liquidation processes.

  7. [BUSINESS] 30 sources
    Turkey Economy Coordination Board addresses fund liquidations

    Turkey's Economy Coordination Board met to discuss labor policies and the liquidation of 65 problematic investment funds, with new legislation pending to facilitate investor payments.

  8. [BUSINESS] 2 sources
    Ziraat Bank completes liquidation for 66 investment funds in Turkey

    Ziraat Bank has completed liquidation transactions for over 45,000 people across 66 investment funds in Turkey, reducing the number of funds under liquidation from 131 to 65.

  9. [BUSINESS] 38 sources
    Turkey investment fund liquidation: 40.8 billion TL paid to investors

    Turkey has completed 40.8 billion TL in liquidation payments to 45,000 investors across 66 funds. New legislation is expected in the TBMM to regulate future fund liquidations and interim payments.

  10. [POLITICS] 10 sources
    Turkish opposition raises alarms over fund crisis and rising debt

    Turkish opposition leaders allege a 20 billion dollar fund crisis and 1 trillion lira in non-performing debt, while the Health Ministry prepares new regulations for patient and worker rights.

  11. [BUSINESS] 2 sources
    Turkey investment fund crisis affects 58,000 investors

    Approximately 58,000 investors in Turkey are unable to access their money following a crisis involving Atlas Portföy funds and investigations into large outflows from Ziraat Bankası investment funds.

  12. [POLITICS] 5 sources
    Erdoğan announces 1 million TL principal payments for fund liquidation

    President Erdoğan announced that principal payments of up to 1 million TL will begin this month following fund liquidation legal reforms to address unjust enrichment and market manipulation.

  13. [BUSINESS] 40 sources
    Turkey fund liquidation: 6.4 billion TL paid to investors

    Turkey is liquidating 66 investment funds, having already paid 6.4 billion TL to 43,643 investors. A new law to protect remaining payments is set for discussion in the TBMM on October 14, 2026.

  14. [BUSINESS] 72 sources
    Turkey investigates investment fund scandal involving 131 liquidated funds

    Turkey is investigating a fund scandal involving 131 liquidated funds and 455,000 investors. Authorities are probing 401 billion lira in suspicious outflows, with principal payments expected in October.

  15. [BUSINESS] 6 sources
    Turkey plans fund crisis repayments and legislative reforms

    Turkey is planning fund crisis repayments using a principal plus CPI formula, while drafting legislative changes to strengthen investor protection and increase Capital Markets Board oversight.

  16. [BUSINESS] 4 sources
    Turkey Fund Coordination Board meets to discuss repayment schedules

    Turkey's Fund Coordination Board met to finalize repayment schedules and investment calculations for 455,758 investors affected by the liquidation of 131 funds and is drafting amendments to the Capital Marketss

  17. [BUSINESS] 20 sources
    Borsa Istanbul loses $108.5 billion amid fund crisis

    Borsa Istanbul lost $108.5 billion in September amid a fund crisis that led to the liquidation of 131 funds. Political fallout has followed, with AK Party's Serkan Bayram apologizing for sharp criticisms.

  18. [BUSINESS] 17 sources
    Borsa Istanbul faces sharp September decline amid fund crisis

    Borsa Istanbul saw a 20% market value drop in September, driven by a fund liquidation crisis. Kiler Holding shares fell 98%, while President Erdoğan stated the issue poses no systemic risk.

  19. [BUSINESS] 102 sources
    Turkey investigates investment fund scandal affecting 500,000 investors

    Turkey has launched a major investigation into a fund scandal involving 131 liquidated investment funds, affecting nearly 500,000 investors and leading to the resignation and asset freezing of AKP official Fat_

  20. [BUSINESS] 2 sources
    Turkey investment funds face liquidation and regulatory shifts

    Following the liquidation of 131 investment funds in Turkey, DEVA Party officials are calling for increased institutional independence and more predictable financial regulations to restore market trust.

  21. [BUSINESS] 34 sources
    Borsa İstanbul implements short-selling rules and index changes

    Borsa İstanbul has implemented 'uptick rule' short-selling restrictions and index changes for Q4 2026, while the SPK extended fund liquidation periods to six months amid a liquidity crisis.

  22. [BUSINESS] 2 sources
    Borsa Istanbul reshuffles BIST-100 index amid liquidity crisis

    Borsa Istanbul is removing over 25% of BIST-100 constituents to address a liquidity crisis caused by investment fund sell-offs and market volatility.

  23. [BUSINESS] 123 sources
    Turkey investment fund crisis triggers liquidations and massive market losses

    Turkey's Capital Markets Board has begun liquidating 131 investment funds, affecting over 455,000 investors and causing an estimated $30 billion market loss amid investigations into potential fraud.

  24. [BUSINESS] 20 sources
    Borsa İstanbul BIST 100 index falls 8.18% amid fund liquidity concerns

    Borsa İstanbul's BIST 100 index fell 8.18% this week amid a liquidity crisis in investment funds, prompting regulatory intervention and concerns over market transparency and systemic risk.

  25. [BUSINESS] 8 sources
    Borsa İstanbul volatility sparks calls for market accountability

    Turkish political figures are demanding sanctions and accountability following extreme volatility and a reported 525 billion lira loss in fund valuations within Borsa İstanbul.

  26. [BUSINESS] 35 sources
    Turkey investigates $18.3 billion investment fund scandal

    Turkish authorities are investigating a massive capital market scandal involving 131 funds worth $18.3 billion, leading to multiple high-level arrests and asset freezes for suspected manipulation and money laur

  27. [BUSINESS] 40 sources
    SPK initiates liquidation of 131 investment funds in Turkey

    Turkey's SPK has ordered the liquidation of 131 investment funds to combat market manipulation. İş Bankası and Ziraat Bankası will manage the process, which is expected to conclude within three months.

  28. [BUSINESS] 68 sources
    Turkey's Capital Markets Board liquidates 131 funds amid manipulation probe

    Turkey's Capital Markets Board is liquidating 131 funds worth 800 billion lira and investigating market manipulation, resulting in 20 arrests and bans on dozens of individuals and portfolio managers.

  29. [BUSINESS] 73 sources
    Borsa İstanbul faces volatility amid fund liquidity issues and regulatory actions

    Borsa İstanbul faced sharp declines and circuit breakers due to liquidity issues in specific investment funds. Authorities have intervened with regulatory bans and liquidity measures to ensure market stability.

  30. [BUSINESS] 5 sources
    Borsa İstanbul BIST 100 index rises 3.25 percent weekly

    The BIST 100 index rose 3.25 percent this week, while Pasifik Teknoloji led stock gains and Odine Solutions saw the sharpest decline. Bulls Portföy's fund recorded a 144.94 percent weekly return.

  31. [BUSINESS] 3 sources
    Borsa İstanbul companies report 2026 mid-year financial results

    Borsa İstanbul companies reported 2026 mid-year financial results, including significant profit shifts for ICBC Turkey and Akfen Yenilenebilir Enerji, alongside notable spikes in trading volume for Aksa Enerji.

  32. [BUSINESS] 16 sources
    Borsa İstanbul BIST 100 index surpasses 14,000 points

    Borsa İstanbul's BIST 100 index surpassed 14,000 points following a strong rally. TCMB Governor Fatih Karahan also updated inflation forecasts for 2026-2028 during a recent briefing.

  33. [BUSINESS] 2 sources
    Borsa İstanbul BIST 30 futures rise as corporate earnings grow

    Borsa İstanbul's BIST 30 futures rose 0.34% to start the week, while 13 companies reported significant EBITDA growth and stock returns exceeding 40% over the last three months.

  34. [BUSINESS] 13 sources
    BIST 100 index slips modestly as Tekfen Holding tops weekly gainers

    BIST 100 slipped 0.14% to 13,779.39 points; Tekfen Holding surged 35% weekly, Şekerbank fell 12.6%, and Bank of America sales hit EREGL down 6.9%.

  35. [BUSINESS] 16 sources
    Borsa Istanbul posts mixed July results amid capital boosts and digital gold rules

    BIST 100 fell 3.48% to 13,458.10 in July, tech stocks led losses, banking rose. Twelve firms announced free‑capital increases, six declared dividends, and a new law enables tokenised gold and silver on Borsa I.

  36. [BUSINESS] 11 sources
    BIST 100 falls sharply as short‑sale uptick rule is activated

    BIST 100 dropped 1.5 % to ~13,293 on 30 July 2026, prompting the short‑sale uptick rule; Fed policy, Middle‑East tensions and sector losses fueled the fall, while BofA sold 1.2 bn TL of shares.

  37. [BUSINESS] 9 sources
    BIST 100 dips as Fed decision looms and geopolitics ease

    BIST 100 closed at 13,774.77 points, down 1.21%, with 180.4 bn TRY volume; earlier rise turned lower amid Fed decision expectations and easing US‑Iran tension; Ata Yatırım lifted its 12‑month target to 19,600.

  38. [BUSINESS] 15 sources
    BIST 100 slides 0.27% as top gainers and losers emerge

    BIST 100 fell 0.27% to 13,943.87 points; Pasifik Eurasia Lojistik rose 22.28% while Şekerbank dropped 40.09%; tech up, leasing‑factoring down, global risks curb sentiment.

  39. [BUSINESS] 2 sources
    Turkey's BIST100 target raised as Fitch downgrades banks and insurers outlook

    Tacirler Yatırım projects Turkey's BIST100 to hit 19,800 points within a year, while Fitch cuts the outlook for Turkish banks, non‑bank financiers and insurers to deteriorating amid high inflation and prolonged

Sources

24hoursworlds.com · 44malatyahaber.com · 61saat.com · abendblatt.de · acikgazete.com · actionforex.com · ad-hoc-news.de · adalet.tv · afrik-foot.com · akcaabatgazetesi.com.tr · akhisargundem.net · akhisarpress.com · akishaber.com.tr · aksam.com.tr · aksiyon.com.tr · almanartv.com.lb · almashhad-alyemeni.com · alsaudi.news · ams.at · anadoludabugun.com.tr · anamurekspres.com · anlatilaninotesi.com.tr · apjii.or.id · ardahanhaber.com.tr · artigercek.com · artvingazetesi.com.tr · avrupagazete.co.uk · aydinlik.com.tr · aydinpost.com · aydinses.com · aykiri.com.tr · az.trend.az · baskentgazete.com.tr · batmanpusula.com · batmanrehbergazetesi.com · bazaartimes.com · bbv-net.de · begleitschreiben.net · benguturk.com · besniguncel.com · beyazgazete.com · beyazgundem.com · bitcoinethereumnews.com · bizimsivas.com.tr · bizimtv.com.tr · blocktempo.com · bloombergHT.com · boldmedya.com

This summary has been updated 164 times: see revision history