The Directorate of Communications announced that the Eighth Fund Coordination Board Meeting was held under the chairmanship of the Vice President and provided an update on the status of investment funds in the liquidation process. It was reported that the Ministry of Justice, the Ministry of Treasury and Finance, and relevant institutions and organizations attended the meeting.
According to the statement, Law No. 7596, prepared to ensure that the process is conducted in a “fair, transparent, and effective” manner for certain investment funds whose liquidation was decided by the Capital Markets Board (SPK), was published in the Official Gazette on October 27, 2026, and entered into force. With the SPK's decision of the same date, the procedures and principles regarding liquidation and payments were also determined.
Information was also provided regarding the liquidation payments for funds founded by Hedef Portföy Yönetim Şirketi A.Ş., which were initiated with the SPK decision dated October 15, 2026. Accordingly, as of October 23, liquidation procedures for 27 of the 31 funds have been largely completed. In this context, 27.2 billion TL has been paid to 26,152 accounts. It was stated that work is ongoing for the remaining 4 funds.
The Directorate of Communications announced that since the beginning of the process, the number of funds under liquidation has dropped from 131 to 38. It was noted that a total of 68 billion TL in in-kind and cash liquidation payments has been made to 71,899 accounts.
The statement indicated that refunds to accounts created under the Savings Deposit Insurance Fund (TMSF) are continuing, while the Financial Crimes Investigation Board (MASAK) is continuing its international-linked investigations regarding companies subject to the fund investigation, individuals suspected of manipulation, suspicious transactions, and the ultimate beneficial owners of the funds.
It was reported that the first interim payments for funds under extraordinary liquidation, whose processes have been clarified by Law No. 7596 and the relevant SPK decision on procedures and principles, are expected to begin on Friday, October 30, 2026. The statement also mentioned that technical preparations for a draft bill that will include structural steps to prevent similar problems from recurring will be accelerated.
The full statement is as follows:
"The Eighth Fund Coordination Board Meeting was held under the chairmanship of our Vice President. The Ministry of Justice, the Ministry of Treasury and Finance, and the relevant institutions and organizations of these ministries attended the meeting.
In accordance with the previous Fund Coordination Board decisions, the Law No. 7596 dated 22.10.2026 on Certain Investment Funds Decided to be Liquidated, which will ensure that the liquidation process of certain investment funds decided to be liquidated by the Capital Markets Board is conducted in a fair, transparent, and effective manner and that payments are legally secured, was published in the Official Gazette on 27.10.2026 and entered into force. Within the scope of Law No. 7596, the procedures and principles regarding liquidation and payments were also determined by the Capital Markets Board's Decision No. 76/1903 dated 27.10.2026.
Regarding the liquidation procedures of the funds founded by Hedef Portföy Yönetim Şirketi A.Ş., for which liquidation payments were initiated with the SPK's decision dated 15.10.2026; as of 23.10.2026, the liquidation procedures of 27 of the 31 funds have been largely completed. In this context, 27.2 billion TL has been paid to a total of 26,152 accounts. Work continues on the liquidation of the remaining 4 funds of the said group.
Thus, since the beginning; the number of funds in the liquidation process has decreased from 131 to 38, and a total of 68 billion TL in in-kind and cash liquidation payments has been made to 71,899 accounts.
Refunds to accounts created under the TMSF are continuing. MASAK is meticulously continuing its international-linked work regarding the companies subject to the fund investigation, individuals suspected of manipulation, the suspicious transactions carried out, and the ultimate beneficial owners of the funds.
Regarding the funds under extraordinary liquidation whose processes have been clarified by Law No. 7596 adopted by the Grand National Assembly of Turkey (TBMM) and the relevant SPK decision on procedures and principles, the first interim payments are expected to begin on Friday, October 30, 2026. On the other hand, technical preparations for the draft bill, which will include structural steps to ensure that similar problems are not experienced again, will be accelerated. The draft, which will be matured by consulting with industry stakeholders, will be submitted to the discretion of our Parliament."
News Source: 12punto
