Şimşek vows liquidity measures as fund crisis probe continues
Treasury and Finance Minister Mehmet Şimşek said Turkey will keep providing liquidity support while investigations into the fund crisis proceed.
Mehmet Şimşek, Turkey's Treasury and Finance Minister, stated on September 28 that the government will continue actions to ensure market liquidity and shield the real economy as the fund crisis investigation advances. He confirmed that prosecutions are focused on participants in market-disrupting trades, with no measures against unrelated individuals or firms. Protecting investment, jobs, production and exports was highlighted as a key objective, and the ministry is working alongside the Justice Ministry to defend investors' lawful claims.
On the same day, seven additional suspects were detained, adding to the 51 already in custody, while asset freezes were lifted on dozens of companies and funds after a new regulator assessment. The Capital Markets Board ordered the liquidation of 131 funds covering 455,758 investors, with banks assigned to manage asset sales and distribute proceeds proportionally.
Why it matters
The government's liquidity actions aim to stabilize Turkey's financial markets and protect millions of fund investors during a major investigation.
How this story developed
- Sep 14 Türk Telekom to Provide Full Tech Infrastructure for Turkey's COP31 Climate Summit
- Sep 16 Trading on the Istanbul Stock Exchange was temporarily halted Wednesday afternoon after the BIST 100 index fell sharply, following reports that fund manager Pusula Portfoy struggled to return money to investors.
- Sep 21 Courts imposed travel bans and asset freezes on the suspects.
- Sep 25 The liquidation deadline for the 131 funds was extended to six months.
- Sep 27 Turkey’s emissions grew 4.2 % in 2025, the fastest among major polluters.
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