Turkey Bans Short-Selling, Eases Buybacks to Stem Market Slide

'Canada is cold but Turks on fire': Turkish Canadians call on Ottawa to condemn the arrest of country's opposition leader

Canada's response to political turmoil in Turkey will be a key factor in shaping the voting decisions for members of diaspora, says a community member.

Turkey. Since the arrest of Mayor Imamoglu, prices on the Istanbul Stock Exchange have crashed, as have the lira. The political situation leads to great uncertainty among investors.

Turkey bans short selling and eases buyback rules amid market rout

The Borsa Istanbul 100 Index shed more than 16 per cent last week after President Erdogan's main opposition leader was arrested

Turkey Bans Short-Selling, Eases Buybacks to Stem Market Slide

Turkey’s capital markets regulator banned short-selling across all stocks and relaxed share buyback rules in a bid to prevent further equity losses after the country’s benchmark index tumbled last week following the detention of a prominent opposition leader.

The Banking Regulation and Supervision Agency (BDDK) decided to grant banks capital flexibility in share buybacks and not to deduct the shares purchased in the buyback from core capital.

Turkey's Wealth Fund borrows $1.19bln without treasury guarantee

In a statement, the wealth fund said 20 banks from 12 countries were involved in the two-year loan made up of two tranches, of 837 million euros and $285 million