In remarks after the cabinet meeting, President Erdoğan said that the fund crisis had been thoroughly assessed, stated that its impact on the market was limited and indicated that the necessary investigations would proceed.
At a press conference after the cabinet meeting, President Erdoğan said that the necessary investigations relating to the fund crisis had been conducted and emphasized efforts to prevent a recurrence.
He stated that the problem posed no real threat to market risks and expressed the view that the Turkish financial system was sound and resilient.
He also referred to measures to protect investors in the country and reiterated that economic security and prosperity would be protected.
According to the SPK's announcement, only TEFAS transactions conducted before the 16th were assessed as subject to liquidation, while all orders from the 17th onward were cancelled.
The liquidation process is said to involve fund assets worth approximately $18 billion and approximately 455,000 investors. Information on future redemptions is also being closely watched.