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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Profile/New Launches

Sovereign Wealth Fund law to be submitted to Parliament as new driving force for mega projects

Posted on 09 August 2016

Finance Minister Naci Ağbal said the draft law on the establishment of the Turkish Sovereign Wealth Fund will be submitted to Parliament’s Planning and Budget Commission today. “While the fund helps to decrease fluctuations in the market, it will also serve as the driving force behind Turkey’s mega projects,” Ağbal said.
The draft law was announced for the first time last week. The establishment of the Turkish Sovereign Wealth Fund and various amendments to a number of laws will address Turkey’s need for a welfare fund, as it is the only G20 member that lacks one. The government also has goals to boost Turkey’s economic growth by an additional 1.5 percent in the next 10 years with the new fund………………………………………..Full Article: Source


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