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اقتصاد
Turkey Bank Chief Ousted
Şahap Kavcıoğlu, head of Turkey’s Banking Regulation and Supervision Agency, submitted his resignation to President Recep Tayyip Erdoğan amid allegations against the agency and himself. The agency had denied the allegations, calling them baseless. The resignation came amid an investment-fund crisis that rattled markets, following the liquidation of 131 funds managed by seven companies and involving around 456,000 investors. On November 5, the government announced that it would return 130.2 billion lira—about $2.6 billion—to more than 420,000 investors in 108 funds undergoing liquidation, as investigations into alleged manipulation of financial markets continued.
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