All companies under trustee control for ‘terror links’ to be transferred to Turkey’s state fund

ANKARA

AA Photo

All companies that have been submitted to the control of trustee panels earlier due to their alleged links to terrorist organizations will be transferred to the Saving Deposit Insurance Fund (TMSF) as of Nov. 22, according to a new state of emergency decree.

“All authorities of the trustee panels, which were appointed to companies due to their junctions or links with terror organizations, will end as of today, the herein emergency decree will be published without any need for a judge’s or court decision,” the emergency decree said. 

The management of these companies will immediately be transferred to the TMSF, it added. 

A total of 527 companies have been transferred to the state-run TMSF since the July 15 coup attempt in Turkey, according to Deputy Prime Minister Nurettin Canikli.

“Some 271 of them are subsidiaries of nine large conglomerates,” Canikli said earlier in November, adding that the government had seized 30 holdings in total since July 15.

The remaining 256 companies are based in 26 different provinces, Canikli said.