President Erdoğan's political elites to run state-owned banks

Turkey's former interior minister became the new chair of Vakıfbank, one of Turkey’s three large state-owned banks, while a former Istanbul mayor was elected to the executive board of state-run Halkbank, left-wing news site Gazete Duvar reported late Monday.

Abdülkadir Aksu, former interior minister of President Recep Tayyip Erdoğan's ruling Justice and Development Party (AKP) government, has been elected as Vakıfbank's new chair, Gazete Duvar said.

Meanwhile, Mevlüt Uysal, Istanbul's former AKP mayor AKP was chosen as the member of Halkbank's executive board, during Halkbank's extraordinary general meeting on Monday, according to the news site. Halkbank is embroiled in a scandal over allegations of U.S. sanctions-busting in 2017.

Erdoğan, who was granted sweeping executive powers in the 2018 general elections, is repeatedly criticised by appointing AKP members to senior positions and forming his political and economic elite.

Halkbank's former senior executive Hakan Atilla, a member of Erdoğan's close circle, was found guilty by the United States in January 2018 of involvement in running a scheme through the bank to break U.S. sanctions on Iran.