Turkey has appointed Nureddin Nebati as a new treasury and finance minister who replaced his predecessor Lutfi Elvan.

Elvan had requested for an exemption from his post, an official gazette said on Thursday. 

Nebati, 57-year-old, has been serving as the deputy treasury and finance minister.

He has a bachelor's degree in public administration and a master's degree in social sciences from Istanbul University as well as a doctoral degree in political science and public administration from Turkey's Kocaeli University.