Turkish President Recep Tayyip Erdoğan has expressed confidence in the resilience of Türkiye’s capital markets despite recent challenges within the investment fund sector. Following a Cabinet meeting in Ankara, Erdoğan addressed concerns, stating that the issues are isolated and do not threaten the broader financial system.
Erdoğan emphasized that the problem is confined to a specific segment of the fund market. He assured that the government is actively managing the situation by overseeing the liquidation of affected funds and implementing measures to prevent future occurrences. Additionally, he promised that legal action would be taken against those responsible for destabilizing market activities.
This response comes in the wake of ongoing investigations initiated earlier this month into alleged share-price manipulation involving several thinly traded stocks. These developments have led to financial losses and increased redemption pressures on certain investment funds, prompting regulatory scrutiny.
Treasury and Finance Minister Mehmet Şimşek reiterated the government’s commitment to maintaining financial stability, noting that legal proceedings against the individuals involved are underway. He assured that pertinent measures would continue to be enforced to safeguard the financial system.
Looking ahead, Erdoğan is expected to convene with economic officials and relevant institutions to evaluate the current situation and explore additional measures regarding the fund market. This proactive approach underscores the government’s determination to uphold investor confidence and market integrity amid the ongoing probe.