Turkish President Recep Tayyip Erdoğan has asserted that Türkiye’s capital markets are stable, despite recent issues within the investment fund sector. Following a Cabinet meeting in Ankara, Erdoğan emphasized that the problems were confined to a specific segment of the fund market and do not endanger the broader financial system.
Erdoğan highlighted that Turkish authorities are actively managing the liquidation of the affected funds and are working on strategies to prevent future occurrences. He assured that the government is committed to taking necessary legal actions against those responsible for destabilizing market activities.
This statement comes in the wake of investigations initiated earlier this month. Authorities are probing suspected share-price manipulation involving several thinly traded stocks, which has led to financial losses and increased redemption pressures on some investment funds.
Treasury and Finance Minister Mehmet Şimşek has confirmed that legal proceedings against the involved parties are ongoing. He reiterated that measures aimed at maintaining financial stability will continue to be enforced.
Looking ahead, Erdoğan is expected to convene with economic officials and relevant institutions to evaluate the current situation and discuss additional measures concerning the fund market. This proactive approach aims to safeguard financial stability and protect investors in Türkiye’s capital markets.