All coverage of Turkey, ranked by recency.
‘We may do that,’ president says when asked if US seeks release of European diesel stocks, while predicting oil prices will ‘drop like a rock’ when Iran war ends
Norway’s sovereign wealth fund was a key investor in an initial public offering underwritten by Tera Yatirim Menkul Degerler AS just two months before the brokerage firm became the center of the biggest fund scandal in Turkish history.
İbrahim Ömer Gönül, who served as chairman of the Capital Markets Board (SPK) between April 2022 and April 2026, said the regulator carried out the necessary inspections during his tenure
Türkiye’s Capital Markets Board (SPK) has approved interim payments of up to 1 million Turkish liras ($20,394) per eligible investor in funds established by Tera, Pusula, Atlas and Hedef portfolio management companies that are undergoing liquidation.
Turkey’s markets regulator ordered interim payments of as much as 1 million liras ($20,400) to investors whose money has been trapped in some funds being liquidated as authorities try to contain a crisis that has shaken the country’s financial markets.
Türkiye’s parliament is set to reopen on Oct. 1 after a 51-day recess, with the investment fund crisis, the “terror-free Türkiye” process and proposed changes to family law and social media rules on its agenda.
Türkiye’s Capital Markets Board (SPK) has approved interim payments of up to 1 million Turkish Liras per investor in funds under liquidation, while temporarily suspending brokerage Tera Yatırım’s capital market activities.
Opposition leader Özgür Özel said on Sept. 30 his New Party had established working groups to probe an investment fund scandal that has shaken Türkiye’s financial markets and vowed to pursue those responsible for losses suffered by investors.
President Recep Tayyip Erdoğan said on Sept. 29 that a financial scandal involving investment funds and the resignation of a senior official would not tarnish his ruling Justice and Development Party (AKP).
Türkiye has set up a board led by Vice President Cevdet Yılmaz to accelerate the liquidation of troubled investment funds and payments to investors, the Communications Directorate announced on Sept. 29.
Turkish stocks entered a bear market after the recent fund crisis erased billions of dollars from Istanbul-listed firms.
President Recep Tayyip Erdoğan met with his economic team and the heads of relevant institutions yesterday, as Türkiye weighs further measures in response to turmoil in the investment fund market.
