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Turkish President Recep Tayyip Erdoğan stated that the recent crisis involving several investment funds in Turkey does not threaten the financial system or the national economy. He emphasized that authorities will take the necessary measures to prevent its recurrence. He explained that the problem was limited to the capital market, particularly some funds, and portraying it as a widespread crisis harms the Turkish stock exchange. He pointed to ongoing investigations and arrests to hold responsible parties accountable, along with implementing legal and administrative measures to ensure the crisis is not repeated. In September, the Capital Markets Board of Turkey decided to liquidate 131 funds associated with seven companies, extending the liquidation period from three to six months, amid unusual trading activity observed in the stocks of some funds with low liquidity.
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