Cabinet meets Monday: Interim payments of up to 1 million lira per person for fund victims on the agenda

The Cabinet, chaired by President Recep Tayyip Erdogan, will meet at the Presidential Complex on Monday, October 12, after a two-week break. The investigation into investment funds ordered for liquidation and interim payments to investors constitute the main agenda of the meeting.

According to a nine-article legislative proposal submitted to the Grand National Assembly of Turkey, interim payments of up to 1 million lira per person are envisaged, to be covered from fund assets. Decisions taken at the fourth meeting of the Fund Coordination Council and inter-institutional coordination will also be on the table.

The latest developments in the Terror-Free Turkey process, US-Iran contact traffic, and developments in Gaza and the Russia-Ukraine war, as well as the economic outlook, have also been added to the Cabinet agenda.

When the investment fund crisis erupted, the majority of affected savers were operating through individual pension and small savings accounts; the 1 million lira ceiling is equivalent to approximately four months' rent in Kadikoy at current rental rates.