President Recep Tayyip Erdoğan appointed Fatih Karahan as the new head of the Central Bank of the Republic of Turkey (TCMB), following the resignation of Hafize Gaye Erkan. The decision regarding the appointment was published in the Official Gazette.
According to the decision, TCMB President Hafize Gaye Erkan was removed from office in accordance with Article 35 of Law No. 375 and Article 2 of Presidential Decree No. 3.
Under the decision, Vice President Fatih Karahan was appointed as the new head of TCMB in accordance with Article 25 of Law No. 1211 and Articles 2, 3, and 7 of Presidential Decree No. 3.
Who is the new president of TCMB, Fatih Karahan?
According to the Central Bank's website, Fatih Karahan was born in Eskişehir in 1982 and graduated from Boğaziçi University with degrees in Mathematics and Industrial Engineering in 2006. In 2012, Karahan completed his master's and doctoral degrees in economics at the University of Pennsylvania.
Starting his professional career in 2012 as an economist at the New York Federal Reserve, Karahan served as the Head of Labor and Product Market Studies and Monetary Policy Advisor at the institution until 2022.
Karahan also held part-time teaching positions at Columbia University and New York University. In 2022, he joined Amazon as a senior economist and was appointed Chief Economist at Amazon in November 2022.
Karahan was appointed as the Deputy President of the Central Bank of the Republic of Turkey on July 28, 2023.
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