Authorized capital of Turkish Investment Fund unveiled

17:27 - 24.05.2023

May 24, Fineko/abc.az. The authorized capital of the Turkish Investment Fund totals $500 million. The authorized capital is divided into 10,000 shares with nominal value of $50,000 each.

ABC.AZ reports that the relevant bill was included in the agenda of the meeting of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship, held on May 24.

According to the document, the TIF president is appointed by the Fund’s Board of Directors for a 4-year term on the rotation basis without extension and reassignment.

The rotation is determined by the Board of Directors, which also includes the first president of the Fund.

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