Turkey’s Erdoğan and Albayrak give up salaries from wealth fund

Turkish President Recep Tayyip Erdoğan and his son-in-law, Treasury and Finance Minister Berat Albayrak, will not receive salaries as the new chairman and deputy chairman of Turkey’ sovereign wealth fund, Hürriyet newspaper reported on Thursday. 

The entire management of the fund, which controls public assets including Turkish Airlines, Ziraat Bank, Halkbank and petroleum companies Türkiye Petrolleri and Botaş, was changed by a presidential decree issued on Wednesday, which named Erdoğan as the new chairman. 

The new executive board, which also includes Zafer Sönmez, the head of Turkey and Africa for Malaysia’s government investment vehicle Khazanah Nasional Bhd, gathered for the first time on Wednesday.

The board members decided to give up their salaries from the wealth fund, as their new posts were a national duty, Hürriyet said.