Audit process initiated: Coordination board established in fund investigation
Economic officials met today under the chairmanship of AKP Chairman and President Recep Tayyip Erdoğan. It was emphasized during the meeting that a "Fund Coordination Board" has been established and that the primary priorities are to ensure payments are made fairly, soundly, and as quickly as possible.
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The audit process has been initiated in the fund investigation. A roadmap has been determined for payments to be made to investors.
A statement was issued by the Presidency's Directorate of Communications regarding the topics discussed at the meeting.
The statement is as follows:
"At the meeting, recent developments in capital markets were evaluated, and participants briefed our President on the work carried out within their respective areas of responsibility, as well as measures taken and to be taken.
“PRIORITY IS TO MAKE PAYMENTS”
Our President emphasized that the primary priorities are to meticulously continue the work regarding the funds decided to be liquidated, to protect the rights of investors within the framework of capital market rules, and to ensure that payments are made fairly, soundly, and as quickly as possible.
In this context:
A "Fund Coordination Board" has been established under the chairmanship of the Vice President to ensure general coordination in order to carry out the liquidation process rapidly, while observing the legitimate rights of investors and the public interest.
“AUDIT PROCESS INITIATED”
Upon the instruction of our President, the State Supervisory Council (DDK) has initiated an examination and audit process covering investment fund transactions that have occurred in capital markets recently.
Information was provided regarding the process being carried out for the transfer of Katılımevim and Birevim Savings Finance Companies, as well as İktisat Katılım Bankası, to Türkiye Emlak Katılım Bankası.
The Capital Markets Board presented a roadmap for the realization of payments to investors whose entitlement reconciliation has been completed, based on the asset and liquidity status of the funds under liquidation.
In addition to resolving the current issue, determination was expressed regarding the implementation of additional administrative and legal regulations that will strengthen the functioning and audit mechanisms of capital markets to prevent similar situations from recurring."