Economy, Business And Markets

Iran Names New Central Bank Governor

President Rouhani advised Hemmati to pursue the reform of banking, fiscal and monetary policies, improve ties with foreign banks and protect the central bank’s reserves
Hemmati Appointed CBI Chief Hemmati Appointed CBI Chief
Abdolnasser Hemmati has formerly served as the chief executive of Bank Melli Iran, the country’s largest bank, and the private Sina Bank

The Cabinet on Wednesday agreed to appoint Abdolnasser Hemmati as the new governor of the Central Bank of Iran, a move widely seen as the first step in the widely expected reshuffle of President Hassan Rouhani’s Cabinet.
Hemmati, 61, is the former head of Central Insurance of Iran (Bimeh Markazi) who was recently tipped to become Iran’s next ambassador to China. 
A number of names had been circulating in the media to replace Valiollah Seif whose five-year term has ended, including Ali Tayyebnia , the former economy minister, and Ali Divandari , the head of Monetary and Banking Research Institute. 
Hemmati is a veteran banker who holds a PhD in Economics. He has formerly served as chief executive of state-run Bank Melli Iran, the county’s largest bank and the private Sina Bank affiliated to Mostazafan Foundation. 
His name, however, is mostly associated with the insurance industry. He was the president of CII between 1994-2006, which is the sole regulator of the insurance industry. 


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