Russian central bank governor Nabiullina to be nominated for further five-year term

By bne IntelliNews March 22, 2017

The governor of the Central Bank of Russia (CBR), Elvira Nabiullina, will be nominated for another five-year term, President Vladimir Putin told the country’s top banker on March 22. The nomination will have to be approved by the State Duma parliament.

Nabiullina is credited with steering Russia through the 2014-2015 recession by free floating the ruble and targeting inflation, which was reined in to its lowest level in post-Soviet history during her tenure.

The CBR under Nabiullina also launched a clean-up of the banking system, withdrawing over 300 banking licences and cutting the number of banks by almost a third.

In January, the UK-based finance magazine The Banker named Nabiullina as the European central banker of the year in 2016. Nabiullina’s achievements in controlling Russia’s inflation rate was a main reason for according her the ranking, the magazine said.

Born in 1963, Nabiullina served as Russia’s economic development and trade minister between September 2007 and May 2012 before being appointed to head the CBR in June 2013. She also served as an advisor to Russian President Vladimir Putin on economic issues between May 2012 and June 2013.

Putin said that the CBR governor had “done a great deal to stabilise the situation in the economy generally, for allowing the banking sector and the whole financial sector to develop”, according to Interfax.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Bulgaria's BACB to acquire 99.94% of Tokuda Bank

The Bulgarian-American Credit Bank said on April 16 it has agreed to acquire 99.94% of local Tokuda Bank from Japan-based Tokushukai Incorporated. The two banks are among the smallest in Bulgaria ... more

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

UniCredit sees modest growth and fiscal overshoot for Hungary in 2024

Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Russia’s war economy boosted by rising oil prices
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss