Turkish Money Managers Say Capital Boost Rules to Spur Shutdowns

Turkish Money Managers Say Capital Boost Rules to Spur Shutdowns

Kerem Uzel/Bloomberg

The Capital Markets Board, or CMB, proposed Feb. 27 raising minimum capital requirements from 427,000 liras amid plans by Prime Minister Recep Tayyip Erdogan’s to turn Istanbul into a global financial center and make Turkey’s economy one of the world’s 10 biggest by 2023.