Turkey Considers Former Citigroup, HSBC Banker for Central Bank Deputy Position: Source – Reuters

ANKARA (Reuters) – Turkey is contemplating the appointment of an academic with previous experience at major banking institutions as a deputy central bank governor, according to a source familiar with the situation reported on Thursday.

Emrah Sener, currently at Istanbul’s Ozyegin University, may soon transition to the central bank, with his appointment potentially being ratified in the coming days.

An official from the central bank declined to provide comments on the matter, and Sener was not available for immediate comment.

As noted in his biography, Sener holds a doctorate in mathematical finance from Imperial College London and a master’s degree from the London School of Economics.

He has also held positions at the London office of Bank of America and worked in the fixed income and credit trading department of a major financial institution, in addition to his tenure at another prominent bank.

Sener’s research focuses on the effects of macroeconomic and monetary policies on asset prices, as highlighted in his biography.

In April, Turkey appointed Murat Cetinkaya as the central bank governor, marking the first individual from an Islamic finance background to take on the role. Since his appointment, Cetinkaya has systematically reduced interest rates, in accordance with President Tayyip Erdogan’s requests for more affordable credit.

Erdogan advocates for a consumption-driven economic model and has previously likened high interest rates to treason, arguing that they contribute to inflation, a viewpoint that contrasts with traditional economic theories.