Turkey's cabinet will meet Monday to review a fund crisis, with Finance Minister
Simsek briefing ministers on probe progress and proposed measures. The
presidency said the meeting will assess recent developments and work on
potential legal and administrative adjustments. Simsek said the government will
take necessary steps, including supplying market liquidity, to prevent contagion
to the financial system and real economy. Regulators ordered liquidation of 131
funds after heavy redemptions this month left some managers unable to meet
withdrawals; the funds involve more than 455,000 retail investors. Authorities
have arrested or detained several finance-sector executives as part of the
investigation.
