Erdoğan says Turkey's multibillion-dollar fund crisis now under control

At a gathering organized by the Türkiye Exporters Assembly in Istanbul, President Recep Tayyip Erdoğan announced that the multibillion-dollar fund crisis, which impacted an estimated $20 billion across nearly 456,000 investor accounts, is now under control. He emphasized that measures implemented since Sept. 17 are being executed with “surgeon’s precision” to resolve the problem equitably. The government’s response includes a draft ten-article law aimed at compensating affected investors under set conditions.

Erdoğan detailed three priorities: rapid payouts from funds slated for liquidation, legal action against those who profited through manipulation, and careful management of the process to avoid harming the capital markets. He also criticized opposition parties for labeling the situation a crisis and attempting to damage the reputation of the markets for political gain.