The Last Era: Turkey After Erdoğan... Who Will Inherit the Throne?
April 12, 2025, 2:02 pm

The Last Era: Turkey After Erdoğan... Who Will Inherit the Throne?

Mohamed Al-Arab

Recep Tayyip Erdoğan, the man who changed the face of Turkey since the beginning of the century, is approaching the final crossroads in his political career after more than two decades in power, switching between the premiership and the presidency. Erdoğan has turned into what resembles the founding father of a new era, with its pros and cons, combining religious pragmatism, neoliberal economics, and Ottoman nostalgia into one package. However, every era has an end, and the question is no longer if he will leave, but when, how, and who will come after him...?

Constitutionally, Erdoğan's current presidential term ends in 2028, and theoretically, he will not be allowed to run for office again unless the constitution is amended or early elections are called. With his advancing age (born in 1954) and declining health in some public appearances, estimates are increasing that 2027 will be the year of his gradual departure from the scene, whether through voluntary transition or through escalating internal and external pressures that make his continuation impossible. This does not necessarily mean an announced withdrawal, but rather a smart and calculated transfer of power, akin to leaders who create their successors and then fade into the background.

But who will carry this heavy legacy? This question is whispered within the corridors of the Justice and Development Party (AKP), openly discussed in opposition salons, and closely monitored in Western and Arab capitals.

Within the ruling party, for a time, it seemed that Berat Albayrak, the former minister of finance and Erdoğan's son-in-law, would be the political heir. An economist with strong connections in the Gulf and Russia, he was close to high financial circles. However, his sudden resignation in 2020, his near-total withdrawal from the scene, and the covert smear campaigns against him from within the party partially undermined this ambition and made his chances of a comeback limited, though not completely closed. Some believe Albayrak will return at the moment of a leadership vacuum, but not with the same power card, rather as a negotiator.

In contrast, there are figures within the party who are moving quietly but confidently. Prominent among them is Fuat Oktay, the Vice President, a calm technocrat who does not stir up storms. He lacks Erdoğan’s charisma but enjoys the trust of the security apparatus and state institutions. He is more of an administrative model than a politician, making him a comfortable option for the establishment if they desire a smooth transition.

Then there is former General Hulusi Akar, the former Minister of Defense, who has remained loyal to Erdoğan but has retained a significant degree of independence and military respect. He is not viewed as an opponent but as a professional officer capable of managing the threads of security and state during a critical transitional moment. It is important to remember that Turkey is a country where the military institution remains a silent yet highly influential player, making a man like Akar a serious possibility, especially if security challenges increase.

As for Süleyman Soylu, the former Interior Minister, he is a controversial figure. He enjoys great popularity among nationalists and conservatives, his rhetoric is fiery, and his positions are sharp, and he has a base within the party. However, he faces suspicion of involvement in internal conflicts and some old corruption files that the opposition occasionally waves around. Soylu could be the nationalist card played by the “deep state” if it decides to readjust its direction inward, particularly if Western pressure increases.

Outside the ruling party, opposition names are emerging strongly, especially in the major cities that are beginning to breathe outside Erdoğan’s shadow. The most significant of these is Ekrem İmamoğlu, the former Mayor of Istanbul, the handsome politician who managed to break the ruling party's monopoly on the economic and political capital of the country. İmamoğlu possesses popular charisma and rare communicative intelligence, making him a star of the opposition and a real threat to Erdoğan. However, the state did not delay in moving against him, as he has begun to face legal pursuits and has already been convicted in cases seen as politically motivated. The aim is clear: to prevent him from running in the future. But in Turkey, sometimes prohibition creates a leader.

The second name is Mansur Yavaş, the Mayor of Ankara, the opposite model of İmamoğlu. Quiet, camera-shy, but effective, he enjoys acceptance among both Islamists and nationalists. Yavaş represents the “responsible authority” that may convince some state institutions that he is the less risky alternative. If this man runs, he could be the dark horse.

As for Kemal Kılıçdaroğlu, the leader of the Republican People's Party, he lost the 2023 bet, and despite his long struggle, his chances in 2028 will be almost non-existent, not only due to age but also due to eroded confidence in him within his own party.

Dr. Mohamed Al-Arab

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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.