Turkey has been undergoing a series of financial reforms aimed at streamlining the country's investment landscape. These reforms are part of a broader effort to enhance transparency, efficiency, and accountability in the financial sector. The Sixth Council of Funds meeting, held on October 18, 2026, was a crucial step in this ongoing process.
The meeting, chaired by Cevdet Yılmaz, the Vice Prime Minister, was held in his office. This gathering brought together key stakeholders, including representatives from the Ministry of Finance, Ziraat Bank, and other financial institutions. The primary agenda was to finalize the liquidation process for 66 separate investment funds, reducing the total number of funds under liquidation from 131 to 65.
Ziraat Bank played a pivotal role in the liquidation process. The bank was responsible for completing the liquidation of 66 funds, which involved payments totaling 40.8 billion Turkish Lira to 45,000 individuals and businesses. This number is significant, as it represents a substantial portion of the total value of the liquidation process. The process was executed with precision and transparency, ensuring that all stakeholders were informed and involved in the decision-making process.
The document is currently being evaluated by relevant authorities to ensure that it meets the needs of the financial market.
During the meeting, a draft law for the Capital Markets Law was approved. This draft law proposes significant and comprehensive changes to the existing legal framework. The document is currently being evaluated by relevant authorities to ensure that it meets the needs of the financial market. The approval of this draft law is a critical step in the ongoing reform process, as it will provide a solid legal foundation for future market mechanisms.
The reduction in the number of funds under liquidation from 131 to 65 is a testament to the effectiveness of the reforms. This move not only simplifies the financial landscape but also enhances the overall stability and transparency of the market. The process of liquidation, while complex, has been executed with the utmost care, ensuring that all parties involved receive fair treatment.
The next steps involve further evaluations of the draft law for the Capital Markets Law. The Ministry of Justice and the Ministry of Finance will continue to work closely with Ziraat Bank and other financial institutions to ensure that the reforms are implemented smoothly. The goal is to create a more robust and efficient financial ecosystem that benefits both investors and the broader economy.
The Sixth Council of Funds meeting marks a significant milestone in Turkey's ongoing financial reforms. The successful liquidation of 66 funds and the approval of a new draft law for the Capital Markets Law are crucial steps toward a more transparent and stable financial landscape. As Turkey continues to navigate these reforms, the focus remains on ensuring that all stakeholders are informed and involved in the process, fostering a sense of trust and confidence in the financial sector.
