Cevdet Yılmaz: The principal of a significant portion of 455 thousand investors will be paid

Vice President Cevdet Yılmaz attended the 19th National Will Meeting held by the National Will Platform at the Headquarters of the Independent Industrialists' and Businessmen's Association (MÜSİAD) and spoke under the title of "Economy in the Türkiye Century".

Stating that they accept the importance of the problem experienced in the capital markets regarding the funds, but do not find it right to create a negative perception towards the entire capital markets or the Turkish economy through these developments, Yılmaz stated that the necessary steps will be taken decisively against those who gain unfair profits through illegal transactions.

Yılmaz explained that it is important to protect investors and maintain confidence in the capital markets.

Stating that the Ninth Fund Coordination Board Meeting was held today and that intensive work was being carried out, especially for the repayment of the rights of small investors, Yılmaz gave information about the scope of the liquidation process.

Vice President Yılmaz stated that there were 7 companies and 131 funds in question, 4 of them entered the ordinary liquidation process, and the extraordinary liquidation process was initiated for the remaining 3.

Noting that the first payments to small investors started on the previous Friday and that the payments will continue throughout the week, Yılmaz said that they expect to make significant progress in the process by mid-November.

Emphasizing that the amounts invested by investors in the funds and their previous withdrawals will be taken into account when calculating the payments, Yılmaz underlined that in this context, the transaction is made based on the "net investment amount".

Yılmaz stated that if the investor withdraws an amount exceeding his principal after the money he deposited gains in value, he is considered to have received his principal back and said, "Let's say an investor entered the system. For example, he deposited 200 thousand liras. Then he made a profit, its value increased to 500 thousand liras. He withdrew 300 thousand liras. We think that his principal has been paid. Therefore, they will not get anything. But he deposited it, it did not come out, his principal remains. These people are paid 1 "These payments are made up to million liras. I can say that a significant portion of the 455 thousand-odd investors will receive their principal," he said.

Source: TRT Haber Açık RSS (Gündem) (Open Press / Translated Full Text)