{
  "id": 11266305,
  "title": "Turkey has avoided systemic risk in fund crisis, says Simsek",
  "url": "https://urgent.news/2026/09/30/turkey-has-avoided-systemic-risk-in-fund-crisis-says-simsek",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/734615/business/turkey-has-avoided-systemic-risk-in-fund-crisis-says-simsek"
  },
  "original_language": "en",
  "account": "Finance Minister Mehmet Simsek has stated that Turkey has managed to avoid systemic risk stemming from the recent fund crisis in its asset management sector. Speaking at an S&P Global emerging markets conference in London via videolink, Simsek emphasized that the impact of the crisis may be limited in the short term but remains contained. He highlighted that Turkey's regulatory framework is more robust compared to others, which has helped prevent a recurrence of similar issues. Simsek pointed out that the stress was confined to a few private funds, which is a short-term problem. Authorities have successfully stopped the contagion from spreading to other parts of the financial system, and additional regulations for funds are likely to be introduced. Despite inflation moving in the right direction due to strong agricultural output and higher energy prices, challenges remain manageable. Simsek also mentioned that Turkey is negotiating a free trade agreement with Gulf Cooperation Council members, and the current geopolitical situation could facilitate the signing of the deal. The market regulator (SPK) of Turkey announced that it will begin making interim payments to investors in over 100 funds that were shut down due to a market-manipulation scandal. Investors holding net investment amounts below 1 million lira (approximately $20,404.79) will receive their full net investment amount, while those with amounts of 1 million lira or more will receive an interim payment of 1 million lira. The process will begin with money market funds. Furthermore, the Savings Deposit Insurance Fund (TMSF) has opened voluntary refund accounts for those who wish to return excessive gains made from fund sales before their liquidation. Turkish legislation allows for pardons or reduced sentences for individuals who demonstrate remorse by paying twice the benefit they obtained to the Treasury. The fund crisis began after suspected price manipulation in a few thinly traded stocks, resulting in heavy losses and redemption pressures for numerous investment funds. Nearly half a million investors hold stakes in more than 100 Turkish investment funds with combined assets of $20 billion, which were ordered to be liquidated this month.",
  "summary": "Turkiye has avoided systemic risk from stress in its asset management sector, Finance Minister Mehmet Simsek said on Thursday, adding that the fund crisis may have a short-term limited impact on senti...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}