Şimşek vows measures to shield financial system and real economy

ANKARA

Treasury and Finance Minister Mehmet Şimşek has pledged targeted interventions to maintain market liquidity and safeguard broader economic stability amid ongoing investigations into market manipulation. 

“We will continue to implement the necessary measures, including primarily the liquidity required by the market, to prevent adverse impacts on the financial system and the real economy,” Şimşek said on Sept. 28.

In a post on X, he said legal proceedings against those involved in market-distorting transactions were continuing, stressing that no action would be taken against individuals and companies with no connection to such activities.

“We are safeguarding the legitimate rights of fund investors in coordination with our Justice Ministry,” he added.

“Our priority is to preserve the investment, employment, production and export capacity of the real sector,” said Şimşek.

He also urged the public to follow statements issued by the relevant authorities regarding the ongoing process.

Meanwhile, Turkish authorities carried out a fourth operation yesterday as part of an ongoing investigation into alleged irregularities involving investment funds and capital markets transactions.

The operation was conducted as part of a probe led by the Terror Financing and Money Laundering Crimes Investigation Bureau of the Istanbul Chief Public Prosecutor’s Office.

Authorities initially issued detention warrants for 10 suspects. Six suspects serving on the boards of directors of Destek Faktoring A.Ş. and Özata Denizcilik were taken into custody, while the number of detainees rose to eight after two more individuals sought under arrest warrants were apprehended.

Those detained include Destek Faktoring board members Özgür Akayoğlu, Kerim Tosun, Nuray Elmastaş and Azize Binnur Tosun, as well as Özata Denizcilik board members Altuğ Kantarcı and Ali Çil.

Officials said efforts are continuing to determine the suspects’ links to the fund and capital markets transactions under investigation, as well as money and asset movements carried out through the companies and their connections with other suspects in the case.

Meanwhile, the Istanbul Chief Public Prosecutor’s Office said there were no new precautionary measures imposed in the fund investigation.

Earlier, asset freeze measures placed on 45 companies and 19 funds under separate investigations related to capital markets transactions in Istanbul had been lifted.

In a statement, the prosecutor’s office dismissed reports claiming that precautionary measures affecting the assets of 106 individuals and entities had been reimposed as part of the fund investigation.

“There has been no additional or new precautionary measure decision,” the statement said.