NEW Party: Fund Law Bill Passed in Single Session Without Şimşek Attending Commission

Members of the TBMM Planning and Budget Commission from the NEW Party filed an opposition note against the adopted fund law bill. In the note, it was emphasized that Treasury and Finance Minister Mehmet Şimşek as well as the heads of the Capital Markets Board and Borsa Istanbul did not participate in the commission discussions.

In the note, the situation was characterized not as a 'fund problem' but as a 'major public collapse': it was stated that more than 455,000 investors suffered losses, Borsa Istanbul's market value eroded significantly, and Turkish indices lost credibility in international markets.

NEW Party officials noted that the proposal was passed in a single session by rejecting the subcommittee request, sidelining secondary commissions, and disregarding opposition proposals. The note included the statement that 'even the commission chair pointed out the insufficiency of the responses.'

The note, which also criticized the substance of the regulation, argued that interim payments were tied to the declining fund value, thereby 'hollowing out' the promise of 'immediate payment.' The 'optional refund' mechanism granted to those who obtained unjust gains was rejected on the grounds that it created doubt that those responsible would not be held accountable.