Şahap Kavcıoğlu

Public claims emerged about Kavcıoğlu and the banking regulator as Turkey’s investment-fund scandal widened, including alleged bribes and personal holdings in the funds. On November 11, he said he had asked President Erdoğan to relieve him of his duties to protect the agency. Several senior BDDK officials were jailed pending trial, but reliable reporting did not identify Kavcıoğlu himself as a criminal suspect.

State of the evidence

Reuters, Euronews and Al-Monitor report his statement and rebuttal; no judicial decision against him located.

Legal status — source text

Public allegations only; no known criminal charges against him as of November 15. Resignation requested; presidential acceptance unverified.

Attribution

Alleged financial links or inducements involving fund managers, which he denies.

Under Kavcıoğlu, the central bank cut its policy rate in September 2021 while inflation exceeded 19%. Economists criticised the approach, aligned with President Erdoğan’s preference for lower rates, warning it could fuel inflation and lira depreciation. This was a public-policy controversy, not a criminal offence.

State of the evidence

The rate cut and criticism are documented in contemporaneous Reuters and financial reporting.

Legal status — source text

No individual judicial proceedings over these monetary-policy choices have been identified.

Attribution

Criticism of the risks posed by monetary policy, rather than alleged criminal conduct.