Turkish Parliament passes law on liquidation of certain investment funds and return of funds to investors
Turkey's Parliament approved a law establishing the procedure for liquidating investment funds that, by a September 17 decision of the CMB, were required to cease operations but were not liquidated by the date of the law's publication. The law provides for interim payments to investors of up to 1 million lira, liability of management companies, and the involvement of the Deposit Insurance Fund in recovering assets.
Javlon Tursunov