Critical meeting in Ankara on fund investigation: Erdoğan met with economic management and regulatory institutions

As developments regarding the fund investigation are being monitored, a critical meeting involving the economic management team and regulatory institutions of the financial markets was held in Ankara.

President Recep Tayyip Erdoğan met with Vice President Cevdet Yılmaz and Minister of Treasury and Finance Mehmet Şimşek, as well as the heads of Borsa İstanbul, the Capital Markets Board (CMB), and the Banking Regulation and Supervision Agency (BRSA).

It was stated that the meeting was held with an agenda to evaluate the functioning of the markets, the audit process, and the administrative and legal steps to be taken within the scope of the fund investigation.

In his statement following the Cabinet Meeting on September 28, Erdoğan had said that the problem was occurring in a limited part of the fund market and that there was no risk spreading to the financial system.

The President also stated that work regarding the liquidation process of the closed funds was ongoing and announced that administrative and legal regulations regarding the functioning of capital markets would be implemented.

News Source: 12punto