14.10.2026 13:59
Debates have begun in the Turkish Grand National Assembly's Planning and Budget Committee on the bill concerning the 131 investment funds decided to be liquidated. Ersan Aksu, AK Party Samsun MP and one of the bill's first signatories, said that interim payments of up to 1 million liras per person could be made to investors, provided that they do not exceed the net investment amount; if cash is insufficient, payments would start with the smallest investor; and no Treasury resources would be used.
Debates on the Bill on Certain Investment Funds Decided to Be Liquidated began at the Planning and Budget Committee of the Grand National Assembly of Turkey (TBMM).
The committee convened under the chairmanship of AK Party Samsun MP Mehmet Muş.
INTERIM PAYMENT OF UP TO 1 MILLION LIRA PER PERSON
AK Party Samsun MP Ersan Aksu, one of the first signatories of the bill, shared information about the regulation.
Pointing out that during the liquidation process investors' most important expectation is that payments be made as soon as possible, Aksu said that with Article 4 of the bill, the net investment amount was adopted as a fair distribution criterion. Aksu continued his remarks as follows:
“The net investment amount will be calculated not on a notional value but on the money inflows and outflows actually paid into the fund. Moreover, this amount will be updated until the liquidation date by the arithmetic average of the change rates of the Consumer Price Index and the Domestic Producer Price Index. During the liquidation of the funds, payments to each fund's investors will be made from that fund's own assets. In the liquidation of the funds, cash outflows will also be carried out in an order in accordance with the ‘first in, first out’ method. In order to prevent our investors from suffering while awaiting the final liquidation, our bill provides for the possibility of making interim payments of up to 1 million lira per person, provided that the determined net investment amount is not exceeded. This is an interim payment. For our citizens whose net investment amount is below 1 million, the entire amount may be paid; if available cash is insufficient, payments will be made starting with the smallest investors with the lowest net investment amount.”
NO TREASURY RESOURCES WILL BE USED
Emphasizing that the bill will not impose a financial burden on the public budget, Aksu said, “During the liquidation process, treasury resources or budget facilities will absolutely not be used. Payments will be covered only from the funds' own assets and from amounts collected from natural and legal persons who committed unlawful acts. The bill will be charged not to our noble nation, but to the manipulators and those responsible who caused the damage.”
Noting that there are currently more than 2,000 investment funds in the fund markets, Aksu said that the number of funds decided to be liquidated by the Capital Markets Board (SPK) is 131.
Aksu made the following assessment: “These 131 funds in liquidation constitute 4.6 percent of the total number of funds in the market and 7.7 percent of total portfolio value. The total portfolio value of these funds corresponds to 2.4 percent of households' financial assets. Therefore, the problem has occurred in a very limited part of the fund market. No one has the luxury of taking the problem lightly, nor does anyone have the luxury of exaggerating and inflaming it. A structural or systemic risk that would adversely affect our financial system is absolutely out of the question.”
Recalling the fund investigations, Aksu stated that within this scope, 84 people have been arrested to date, proceedings have been carried out against 282 people, and search warrants have been issued for 27 suspects. Aksu said, “We will not tolerate anyone who tries to exploit our citizens' sweat, labor, and future for their own benefit. Regardless of party affiliation, and irrespective of identity, personality, or career, everyone who disrupts the market, commits fraud or deception, will account for their actions before the law.”
OPPOSITION REQUESTS A SUBCOMMISSION
Before starting the deliberations, Muş opened a procedural debate upon the request of opposition MPs.
New Party Antalya MP Cavit Arı stated that today the Bill on Certain Investment Funds Decided to Be Liquidated would be discussed in the committee with the participation of representatives of state institutions, and that solution proposals would be voiced.
Arı, saying that within the scope of the investigation into financial crimes conducted against Cafer Mahiroğlu, the Savings Deposit Insurance Fund (TMSF) had been appointed as trustee to companies determined to be affiliated with Mahiroğlu, argued that discussing the bill on such a day would serve no purpose.
Arı requested that the bill first be discussed in a subcommission and that the subcommission conduct work on the matter.
CHP Karabük MP Cevdet Akay, expressing that the appointment of TMSF as trustee to companies determined to be affiliated with Mahiroğlu saddened them, advocated the view, “The erroneous practice must be abandoned.”
İYİ Party Samsun MP Erhan Usta, stating that today they would take up an important bill in the committee and discuss the problem and solution proposals, said, “The Minister should be here today.”
New Path Party Adana MP Sadullah Kısacık said, “In such an environment, we cannot discuss this bill with a simple impact analysis. The impact analysis does not have sufficient information for MPs to deliberate. We have no information at all about how much money is in the funds, but we will authorize the SPK. We need to be informed.”
DEM Party Antalya MP Hakkı Saruhan Oluç, noting that there may be various corruptions in companies and that trustees could therefore be appointed, used the statement, “What does silencing the broadcast mean? TMSF should ensure that the broadcast continues.”
Committee Chairman Muş, pointing out that the owners of the bill, heads of institutions, and relevant deputy ministers were also present at the deliberation, said, “We officially send the committee invitation. We also sent it to the Ministry of Treasury and Finance. If the Minister deems appropriate, he may come.”
Addressing the requests to establish a subcommission, Muş said that the committee had command of its agenda.
Before the meeting, New Party MPs, criticizing the appointment of the Savings Deposit Insurance Fund (TMSF) as trustee to companies determined to be affiliated with Mahiroğlu within the scope of the investigation into financial crimes conducted against Cafer Mahiroğlu, stuck black tape over their eyes and mouths.
After Aksu's speech, the committee moved to deliberations on the bill as a whole.