Turkey arrests former Takasbank chief as fund probe widens
Politics
Wednesday, November 11, 2026
- Updated Nov 11, 2026 05:24
Turkish police have arrested Yunus Arinci, the former head of the settlement and custody bank Takasbank, and two other financial executives as the market manipulation investigation widens, and the banking regulator's chairman has submitted his resignation the same day.
Why it matters: The arrests take the fund scandal from resignations to detentions at the top of Turkey's market plumbing, with the former head of the settlement bank in custody and the banking watchdog, the third financial institution to lose its head to the affair, leaderless around a crisis that has frozen 131 funds since September.
Data as of Reuters report of November 11, 2026, read via TradingView, and Turkish media reports summarised by Le Private Banker, both read in full in an earlier run; updated November 11 with a Bloomberg report, read in full via the estate browser route, citing the state-run Anadolu Agency for the arrests, with no charges specified in that report. Developing item.
Latest
Turkish authorities have arrested Yunus Arinci, who led Takasbank, the country’s settlement and custody bank, before resigning earlier this month, Bloomberg reported on Wednesday, citing the state-run Anadolu Agency. Ali Pasli, a co-founder of the digital Islamic lender Adil Katilim Bank, and Omer Murat Gulkan, chairman of OMG Capital Advisors, were also arrested as police expanded the market manipulation investigation, according to the same report, which said the charges were not specified.
Sahap Kavcioglu, chairman of Turkey’s Banking Regulation and Supervision Agency (BDDK), said on Wednesday he had submitted his resignation to President Tayyip Erdogan. Kavcioglu said on X that he had asked for permission to step down “in light of the recent allegations concerning the Banking Regulation and Supervision Agency,” Reuters reported.
The resignation follows the arrest of three senior BDDK officials, including a deputy head, in the investigation into investment funds, according to Turkish media reports summarised by Le Private Banker. Kavcioglu denied any link to the fund affair. The probe began after fund fraud came to light on September 17, and regulators have since ordered the liquidation of 131 funds run by seven asset managers.
Sources
- Turkish banking watchdog chairman says he submitted resignation to Erdogan - Reuters (via TradingView) - 2026-11-11
- Head of Turkey's Banking Regulator Resigns as Fund Probe Reaches BDDK, Reports Say - Le Private Banker, summarising Turkish media reports - 2026-11-11
- Turkey Arrests Ex-Takasbank CEO in Widening Fund Crackdown - Bloomberg, reporting Anadolu Agency - 2026-11-11