The Presidential Communications Directorate announced that the first interim payments for funds under extraordinary liquidation are expected to begin on Friday, October 30, 2026. The process is based on Law No. 7596, accepted by the Grand National Assembly of Türkiye (TBMM), and a related procedural decision of the Capital Markets Board (SPK).
The 8th Fund Coordination Board meeting was chaired by Vice President Cevdet Yılmaz. Representatives from the Ministry of Justice, the Ministry of Treasury and Finance, and their affiliated institutions attended.
Legal Framework
The statement said Law No. 7596 on certain investment funds ordered to be liquidated, dated October 22, 2026, was published in the Official Gazette on October 27, 2026, and entered into force. Under the law, the SPK's decision No. 76/1903, dated October 27, 2026, sets out the procedures and principles for liquidation and payments.
Progress of Liquidation
Payments began for funds founded by Hedef Portföy Yönetim Şirketi A.Ş., following an SPK decision dated October 15, 2026. As of October 23, 2026, liquidation of 27 of the 31 funds in this group has been largely completed. A total of 26,152 accounts received 27.2 billion lira.
Work on the remaining four funds is ongoing. Since the start of the process, the number of funds in liquidation has fallen from 131 to 38. In total, 71,899 accounts have received in-kind and cash liquidation payments amounting to 68 billion lira.
Refunds to accounts opened at the Savings Deposit Insurance Fund (TMSF) are continuing.
MASAK continues its investigations into companies subject to the fund inquiry, individuals suspected of market manipulation, suspicious transactions, and the real beneficiaries of the funds, including links abroad.
Next Steps
The statement said technical preparations will be accelerated for a draft bill containing structural measures to prevent similar problems from recurring. The draft will be refined through consultation with sector stakeholders and then submitted to the Parliament.
