The law defines the term ‘qualified investor’ as domestic or international investment funds, retirement funds, investment partnerships, stock brokers, banks, insurance companies, portfolio management companies, mortgage financial institutions, retirement fund organizations, foundations useful for the public, and other investors considered similar to the ones described above by the Capital Market Board, or real persons or legal person holding assets of cash in Turkish Lira or any other currency or capital market instruments at a minimum total value of TL 1 million as of the issue date of the said capital market instruments.