Turkey's new treasury and finance minister sworn in

Turkey's new Treasury and Finance Minister Lutfi Elvan was sworn in on Tuesday.

Elvan has replaced Berat Albayrak, who resigned on late Sunday citing health issues. Turkish President Recep Tayyip Erdoğan officially accepted his resignation on Monday.

Speaking to reporters in the parliament ahead of the swearing-in ceremony, Elvan said that there would be no handover ceremony due to Albayrak's health issues.

"I talked to Mr. Albayrak. I thanked him for his services. He also wished success for us," he said.

Elvan was appointed the country's new treasury and finance minister on early Tuesday, according to a presidential decree published in the Official Gazette.

The 58-year-old Elvan has served as transport, maritime and infrastructure minister between 2013-2015 and development minister between 2016-2018.

Before his appointment as finance minister, he was serving as chairman of Parliament's Planning and Budget Committee.

Elvan has a bachelor's degree in mining from the Istanbul Technical University Faculty of Mines, a master's degree in mining operations and research from Leeds University in the UK and a second master's degree in economics from US-based Delaware University.

He also held different positions at international institutions such as the OECD and EU.