Erdogan Pledges Strong Action to Address Problems in Turkish Fund Market
"We are addressing the issue that has emerged in a certain part of the fund market and are taking the necessary steps one by one with great determination," Erdogan said.
He made the remarks during a meeting with members of the ruling Justice and Development Party in Ankara at the opening of the new legislative year.
"Our economic management is following the issue, taking measures and implementing the steps needed to ensure that financial markets emerge from this crisis stronger," Erdogan said.
Erdogan said the State Supervisory Council is carrying out a broad investigation into the matter involving funds and pledged that authorities would take action against any wrongdoing.
"Our State Supervisory Council is examining this matter in all its dimensions. We will not tolerate even the slightest negligence or any violation of the law and rules," he added.
The president also pointed to the recently established Fund Coordination Board, led by Vice President Cevdet Yilmaz, saying the body has been tasked primarily with resolving the issue.
"The primary agenda of our Fund Coordination Board, established under the chairmanship of our vice president, is to ensure that this issue is resolved," Erdogan said.
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