Turkey Approves Interim Payments for Investors in Funds Under Liquidation

Turkey’s Capital Markets Board has approved interim payments to investors in investment funds undergoing liquidation, following suspected stock-price manipulation that led to losses and pressure to withdraw money.

The payments are capped at one million Turkish lira per investor in each fund. The limit applies separately to each fund, rather than to an investor’s combined holdings across the affected funds.

The measure allows investors to receive some money while the liquidation process remains under way, instead of waiting for it to be completed.

The approval comes amid the fallout from the suspected manipulation and resulting withdrawal pressure. The payments are interim disbursements, not a final settlement of investors’ holdings.