Politics · Turkey · 23 hrs ago

Bill proposes advances of up to 1 million liras for fund investors

Bill proposes advances of up to 1 million liras for fund investors

A bill before Türkiye’s parliament proposes advance payments for investors in certain funds being liquidated.

The proposal covers funds ordered into liquidation by the Capital Markets Board on Sept.

17, whose liquidation is still unfinished when the law takes effect.

About 350,000 investors could receive advances of up to 1 million Turkish liras, though officials put the total number affected at roughly 455,000.

Payments would depend on available assets and verified claims, and investors with larger losses would still be subject to the 1 million-lira cap on the advance.

Any later settlement would include an inflation adjustment, and further payments could follow as assets are sold or money recovered.

The proposal says no public funds would be used and excludes investors found to have taken part in market abuse or worked with those responsible.

Parliament’s Plan and Budget Commission is expected to consider the bill before it goes to the General Assembly.

Sources

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