Business · Companies · 3 hrs ago
Takasbank rejects claims it directed financing to specific borrowers
Takasbank denied claims it financed specific people or organizations through Turkey’s organized money market.
It said it operates the Takasbank Money Market but does not lend or borrow there, and members trade through a system that keeps them from seeing one another.
About 450 billion lira in collateral backs 240 billion lira in transactions, according to the bank; it said shares make up less than 1.5% of the collateral and there have been no defaults.
Takasbank also addressed claims about Tera Portfolio’s First Free Fund, which began trading on TEFAS on July 7, 2025, and was temporarily closed to purchases after an unapproved prospectus change was reported.
The fund reopened after regulatory approval on August 12, 2025, and Takasbank said claims that it traded for 11 months without approval were false.
It said a fine imposed on the fund’s founder related to the unapproved 2025 prospectus change.
Takasbank says it is assisting official reviews and reserves the right to take legal action against those it says knowingly spread false information.
Takasbank rejected claims that it directed its resources to specific borrowers or that a fund received special financing through the Takasbank Money Market.
The bank said it operates the market but does not borrow or lend there, and that members trade through a system in which they cannot see one another.
It said about 240 billion lira in transactions were backed by 450 billion lira in collateral, with no defaults recorded to date.
Takasbank also disputed claims that the Tera Portföy Birinci Serbest Fund traded on TEFAS for 11 months without regulatory approval.
The bank said the fund was closed to purchases after an unapproved prospectus change was reported and reopened after approval.
- Who
- Takasbank, the Istanbul clearing and custody bank, issued the response.
- What
- It rejected claims that it directed financing to specific borrowers and addressed allegations about TPP and TEFAS transactions.
- When
- The statement was reported on October 17, 2026.
- Where
- The claims concern the Takasbank Money Market (TPP) and the Türkiye Electronic Fund Trading Platform (TEFAS) in Turkey.
- Why
- Takasbank said it was responding to claims circulating on social media and in some media outlets.
This story does not have two clearly opposing sides.
The Tera Portföy Birinci Serbest Fund began trading on TEFAS.
The fund was closed to purchases after a report that its prospectus had been changed without approval from the Capital Markets Board.
The fund reopened to purchases after receiving the regulator’s approval.
Takasbank’s response to claims about TPP and TEFAS was reported.
- TPP transactions
- About 240 billion lira
- TPP collateral
- 450 billion lira
- Bank guarantee letters
- About 84% of total collateral
- Shares
- Less than 1.5% of total collateral
- Fund reopening
- August 12, 2025
3 sources
What people are saying
Providing financing to specific people is not possible