Turkey’s former FM says Erdogan’s AKP ‘losing popular support’
October 1, 2019, 9:23 am

Turkey’s former FM says Erdogan’s AKP ‘losing popular support’

Turkish President Recep Tayyip Erdogan’s Justice and Development Party (AKP) is losing popular support in the country. (File photo Reuters)

Turkey’s Justice and Development Party (AKP) is losing popular support in the country, former Turkish Foreign Minister Yasar Yakis told Al Arabiya, as a result of a “17-year period of staying in power” and “mistakes made in foreign policy and the economy.”

In an interview with Al Arabiya, Yakis discussed former premier and party member Ahmet Davutoglu’s resignation, and said that “Davutoglu did not wait for the party to expel him following his statements against the party. He refused to stay despite Erdogan’s proposal to work with him.”

Former Prime Minister Davutoglu announced his resignation from Erdogan’s ruling party on September 13, and said that he has plans to form a new political movement.

He has recently been critical of Erdogan’s policies, especially concerning freedom of expression, and was the second key AKP figure to resign from the party after Ali Babacan - a former deputy prime minister and economy minister, who in July also announced plans for a new party.

“Davutoglu and Babacan are opposed to the deteriorating economic and democratic conditions, as well as the freedom in the country. They may have a chance at winning the next elections as a result of the ruling party’s failures,” he added.

Yakis, who was expelled from Erdogan’s ruling party for rejecting the president’s policies in the Middle East, said that early elections in Turkey “may be a possibility if Erdogan could estimate the losses his party will face in the 2023 elections.”

The AKP ordered a re-run of the Istanbul mayoral vote on May 6 following the defeat of Erdogan’s party, citing what they say are irregularities that affected the outcome.

The main opposition Republican People’s Party (CHP) won in the capital Ankara and Istanbul for the first time in 25 years in the March 31 local elections, in a major setback for Erdogan, who served as Istanbul’s mayor in the 1990s.

Erdogan’s ruling AKP and its nationalist MHP allies have since called for the vote in Istanbul to be re-run. The parties have also filed appeals to annul results in two Istanbul districts, Buyukcekmece and Maltepe, over the same claims.

“The decision to hold early elections in Turkey goes back to Erdogan. If he decides that his AKP party will face more losses during the elections in 2023, then he will resort to holding early elections.

The former minister also criticized the dismissal of three Kurdish mayors in the country, saying that “replacing them with trusted officials is against the democratic principles that the AKP used to cherish in the early stages of its rule.”

He added that when the AKP was established in 2001, “We preferred to have a transfer of power take place through local authorities, but what the party is doing now is the opposite of what was promoted in its early years.”

Intervening in Syria

Turkey’s intervention in Syria was “wrong from the very first day,” Yakis said, adding that, “Turkey should not get involved in Syria’s internal affairs.”

Turkey has been heavily involved in the Syrian civil war since 2016. The war in Syria has killed more than 370,000 people and displaced millions since it started in 2011 with a brutal crackdown on anti-government protests.

“It should have limited its participation to the humanitarian aspects of the crisis. Sending forces to a neighboring country is unacceptable under international law,” he added.

Turkey could have promoted its national interests in Syria, the former minister said, by avoiding direct military intervention.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.