Turkey purges central bank as nine top officials are sidelined

Pedro Gonçalves
clock • 1 min read

Turkey's central bank, known as Türkiye Cumhuriyet Merkez Bankası (TCMB) has made the biggest overhaul to its senior management in recent years, just weeks after president Recep Tayyip Erdogan sacked its governor. At least nine senior figures, including the chief economist, Hakan Kara, were told that they were being moved to other roles. The regulator's head of Research, Banking Department Chief, as well as Risk Management Chief and Institutional Transformation Manager, were also dismissed. The upheaval follows last month's decision by Erdogan to use a presidential decree to fire M...

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