12.08.2016 - Turkey Creates First Sovereign Fund for Strategic Projects
Turkish government commenced preparations to create the first sovereign fund in Turkey to support strategic and long term developmental projects. The fund will be directly oriented by the prime minister’s office. The cabinet submitted a draft law to the parliament, last week. The draft law suggests creating a joint stock company that manages a sovereign fund, abides by relevant professional regulations and is affliated to the cabinet presidency. It also proposes establishing other sovereign funds as per the country’s need. According to a report published by Sovereign Wealth Fund Institute, there are four sovereign funds in the Persian Gulf that are classified out of the ten greatest sovereign funds around the world...............................................Full Article: Source
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