The Grand National Assembly of Turkey (TBMM) will have a busy schedule in the new week with both General Assembly and committee agendas. The Draft Law on Certain Investment Funds Decided to be Liquidated, which was approved in the Planning and Budget Committee last week, is planned to be brought to the General Assembly agenda ahead of the Turkish Red Crescent Draft Law currently under discussion.
The proposal regulates the process regarding investment funds whose liquidation was decided by the Capital Markets Board's decision dated September 17, 2026. The regulation aims to determine the procedures and principles for recovering assets stated to have been unlawfully removed from fund assets, collecting losses and damages from those responsible, and paying the obtained amounts to fund shareholders.
INTERIM PAYMENTS TO FUND SHAREHOLDERS
According to the proposal, interim payments can be made to investors. A payment of up to 1 million TL is envisaged for those with a net investment amount below 1 million TL, and a maximum of 1 million TL for investors with 1 million TL or more. Excluding money market funds, the interim payment amount cannot exceed the total value of the participation shares in the fund shareholder's account as of the end of the day prior to the calculation date.
In investigations conducted due to acts related to the funds within the scope of the regulation, decisions to seize assets may be issued in accordance with the relevant provisions of the Criminal Procedure Code. The portfolio management company, acting as the founder or manager of the fund, will be held primarily responsible for the resulting damage or loss.
The proposal also allows for the Savings Deposit Insurance Fund (TMSF) to be appointed as a trustee. It is stated that if the TMSF is appointed as a trustee, it will be able to sell or liquidate the assets in question without waiting for the outcome of the lawsuit, using the powers granted to it under the Banking Law.
The budget process in Parliament will also begin this week. The 2027 Central Government Budget Law Proposal, the 2025 Central Government Final Account Law Proposal, and the Court of Accounts reports will be discussed in the Planning and Budget Committee. Vice President Cevdet Yılmaz is expected to make a presentation on the budget in the committee on Wednesday, October 21, at 14:30.
Following the budget presentation, a one-week break will be given for committee members to prepare. The committee is expected to begin discussions on the general budget on Tuesday, October 27, followed by approximately one month of budget discussions for ministries and public institutions.
On the agenda of the State Economic Enterprises (KİT) Committee are the 2023-2024 balance sheets and accounts of Iller Bank, TOKİ, Vakıf Construction Restoration and Trade Inc., the Turkish Grain Board (TMO), the Turkish Sugar Factories, and the General Directorate of Tea Enterprises (Çaykur).
Political party group meetings will also be held in the TBMM on Tuesday and Wednesday. The AK Party Group is expected to meet on Wednesday, and President and AK Party Chairman Recep Tayyip Erdoğan is expected to address the deputies.
One of the controversial topics of the week will be the Mecca Joint Defense Agreement, which is criticized by the opposition. The opposition argues that the implementation of the agreement, which was announced to have been signed between Turkey, Saudi Arabia, and Pakistan on August 7, 2026, in the field before the TBMM approval is completed, is unconstitutional. AK Party members, on the other hand, state that Foreign Minister Hakan Fidan can provide information to the General Assembly if necessary.
News Source: 12punto
