Vice President Cevdet Yılmaz announced that the Fund Coordination Board will meet for the second time tomorrow morning.
Yılmaz stated that a special account has been opened within SDIF for each fund for the return of ill-gotten gains.
Yılmaz stated that Turkish capital markets will continue their strong path once the problems in a limited area of the fund markets are resolved.
Yılmaz’s statement is as follows:
“The Fund Coordination Board, established by our President and chaired by me, will hold its 2nd meeting tomorrow morning. Our road map has been determined. All our relevant institutions are taking concrete steps in coordination on the issues within their fields of responsibility. Important decisions have been made and announced by the BRSA and the CMB.
Within the SDIF, special accounts are opened for each problematic fund to refund ill-gotten gains.
Judicial processes are being operated effectively and the State Supervisory Board has been appointed and started its work. Our institutions inform the public about the steps they take in their fields.
Disinformation should not be relied upon. Every stage of the process will be managed with common sense, within the rules of law, within the framework of the rightful sensitivities of our citizens. Our basic approach is to protect the rights of the public and investors, and to take the most effective measures against manipulators and speculators who gain unfair profits through illegal transactions.
The foundations of our economy and the structure of our capital markets are solid. There is no systemic risk. “Once the problems arising in a limited part of the fund markets are resolved, our capital markets will continue on their way with a much stronger structure.”
