{
  "id": 10215698,
  "title": "Turkey’s ex-minister resigns as investment fund crisis grows",
  "url": "https://urgent.news/2026/09/27/turkeys-ex-minister-resigns-as-investment-fund-crisis-grows",
  "topic": "world",
  "section": "World",
  "published": "2026-09-27T11:44:46.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/world/2026/09/27/turkey-s-ex-minister-resigns-as-investment-fund-crisis-grows"
  },
  "original_language": "en",
  "account": "Former Turkish family minister Fatma Betul Sayan Kaya has resigned from her position amid a widening investment-fund crisis. The announcement was made late Saturday on social media platform X, after days of speculation surrounding her alleged connections to the scandal.\n\nThe crisis erupted earlier this month, prompting regulatory action to address liquidity concerns within the investment-fund sector. In response, seven companies managing 131 investment funds with assets worth approximately US$17 billion were placed into liquidation. This move aimed to protect investors' funds and restore confidence in the market.\n\nKaya, who served as family minister from 2016 to 2018 and is a senior member of President Recep Tayyip Erdogan's ruling AKP party, requested to be excused from all positions and responsibilities she currently holds. She emphasized the importance of taking political responsibility to ensure the office remains free from public debate and that an independent investigation can take place.\n\nThe opposition Yeni Parti (New Party) sought clarification regarding claims that Kaya had made a stock market investment of 63 million lira (US$1.3 million), which reportedly generated around 1.3 billion lira in proceeds. The scandal has drawn attention to the alleged political connections of some investors and fund owners.\n\nEconomist Timothy Ash highlighted the need for a comprehensive investigation into the episode, calling for accountability and the enactment of necessary reforms to address shortcomings in Turkey's regulatory framework. AKP spokesman Omer Celik vowed to fight against all forms of wrongdoing without compromise, promising that any allegations would be diligently investigated and those responsible held accountable before the law.\n\nThe fund crisis emerged in early September when the Capital Markets Board (SPK) revised guidelines for investment funds, requiring them to diversify their assets instead of investing all in a single stock. This change was intended to reduce the risk of heavily investing in obscure or hard-to-sell stocks. However, some funds began selling holdings to comply, causing investor anxiety and prompting redemptions that were ultimately impossible for several companies to fulfill.\n\nThe scandal prompted the SPK to place all 131 investment funds into liquidation, affecting over 455,000 individual investors. While Turkish President Erdogan downplayed the risks posed to the Turkish economy, acknowledging that necessary steps were being taken, the crisis has sparked speculation about the potential resignation of Finance Minister Mehmet Simsek.",
  "summary": "Betul Sayan Kaya faces scrutiny over alleged links to the scandal involving 131 investment funds.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Turkey’s ex-minister resigns as investment fund crisis grows",
        "url": "https://urgent.news/2026/09/27/turkeys-ex-minister-resigns-as-investment-fund-crisis-grows-10218135",
        "published": "2026-09-27T11:44:46.000Z"
      },
      {
        "outlet": "Al-Monitor",
        "title": "Deputy chair of Turkey's AK Party resigns after trading allegation amid funds crisis",
        "url": "https://urgent.news/2026/09/27/deputy-chair-of-turkeys-ak-party-resigns-after-trading-allegation",
        "published": "2026-09-27T11:46:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}