Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
For nearly half a million retail investors caught in Turkey’s worst financial storm in years, compensation has finally begun to flow. But the first cash distributions came as the fallout spread beyond Turkey’s borders: global index provider MSCI froze index changes for Turkish equities on Oct. 15 and warned of a possible downgrade, while prosecutors broadened their probes and lawmakers scrambled to pass emergency legislation.
In one of the country’s largest financial scandals, payments to victimized fund investors began and priority will be given to small investors, according to statements from officials.
Electronics and home appliances exporter Vestel Elektronik faces growing financial pressure as Moody’s cut its long-term rating and warned of a very high risk of default.
The Borsa Istanbul’s benchmark BIST 100 index entered a technical bear market at the end of September, marking its worst monthly performance since the 2008 global financial crisis.
The government is preparing comprehensive reforms across its financial regulatory bodies following the massive investment fund crisis that shook domestic markets.
The Financial Action Task Force (FATF) has released its 5th Round Mutual Evaluation Report for Turkey, confirming that the country faces no risk of returning to the grey list, the Finance Ministry said.
The central bank and other regulator bodies stepped in to stabilize financial markets after alleged market manipulation, fraud and fund mismanagement sparked a major equity sell-off and corporate defaults.
US authorities have designated a Turkish investment bank and three Istanbul-based logistics companies under targeted sanctions for allegedly facilitating illicit Iranian financial transfers and supporting Tehran's aviation network.
A financial crimes operation targeting the Süleymancı religious sect, led by Alihan Kuriş, whose given name is Ali Erhan Kuriş, 46, was carried out across 17 provinces. Detention orders were issued for 49 people, including Kuriş.
International financial giant Freedom Holding Corp., founded by Kazakh billionaire Timur Turlov, has completed the regulatory approvals to acquire a majority stake in Turkish Bank A.Ş.
Hundreds of defendants in the Istanbul Municipality trial can collect pensions, easing the financial strain many have suffered since the start of pretrial detentions in March 2025.
The financial crimes police raided Şile Municipality on July 10, detaining Mayor Özgür Kabadayı as part of the widening corruption investigations targeting CHP-run municipalities. It was yet another ordinary day for the main opposition, which has been facing near-daily legal turmoil since Istanbul Mayor Ekrem İmamoğlu was detained on March 19. CHP Istanbul Chair Özgür Çelik said Kabadayı and several others were detained in house raids at 1:30 a.m. Arrest warrants were issued for at least six individuals, said the Istanbul Chief Public Prosecutor’s Office.