Turkey’s Capital Market Board has introduced temporary month-long measures at the Istanbul Stock Market following the detention and conviction of Istanbul Mayor Ekrem İmamoğlu on corruption charges.

The measures, which entered into effect this morning (March 24) will remain in place until April 25th.

The three temporary measures announced Sunday are as follows: Banning of short selling transactions on the Istanbul Stock Exchange, easing of share buyback transactions by public companies, and the relaxing of equity ratios in credit capital market transactions.

Wednesday’s detention of İmamoğlu resulted in major losses of the Turkish Lira against the US Dollar and Euro, and Turkey’s Central Bank reportedly sold off a large portion of its foreign reserves in an attempt to prop up the currency.

Over the weekend, leader of the main opposition Republican People’s Party (CHP) Özgür Özel alleged that Turkey’s Finance Minister Mehmet Şimşek was........

© Medyascope