Erdogan Says Turkey Created a Board to Oversee Fund Liquidation
Turkeyโs President Recep Tayyip Erdogan said the country has created a board to oversee the liquidation of investment funds to be wound down.
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Turkeyโs President Recep Tayyip Erdogan said the country has created a board to oversee the liquidation of investment funds to be wound down.
Turkeyโs economic authorities will hold two days of talks on how to repay investors in 131 investment funds being liquidated after a wave of redemption failures triggered turmoil in the countryโs markets.
Borsa Istanbul is removing a factoring company at the center of Turkeyโs crackdown on investment funds from its indexes of the countryโs most valuable stocks.
Turkey has turned to two of its biggest banks to oversee the liquidation of 131 investment funds caught up in turmoil that has shaken the countryโs asset-management industry.