Closure of 17 Funds Completed, Investors' Funds Transferred to Accounts

Mehmet Şimşek, Turkey's Minister of Treasury and Finance, recently revealed that the liquidation of 17 investment funds has been successfully completed, resulting in the transfer of funds belonging to 43,000 investors to designated banks. The announcement was made public by the Communications Directorate, which provided further details about the ongoing process. Minister Şimşek stated, "As of today, the funds for 43,000 participants have been transferred to the relevant banks." This significant step marks a crucial development for investors affected by the liquidation process. The Communications Directorate also confirmed that Ziraat Bank has been tasked with managing the liquidation process, working in coordination with relevant institutions. As of October 8, the liquidation of a total of 17 funds, established by A1 Capital, Bulls, and Pardus portfolio management companies, has reached its final stages. Investors are assured that the amounts to be paid out will be transferred to the accounts of banks and intermediary institutions by Ziraat Bank. The statement emphasized that these liquidation amounts will be credited to investors' accounts as swiftly as possible, ensuring a smooth transition for those impacted by the fund closures.