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Friday, November 16, 2018

Deputy chairman leaves position at National Bank of the Kyrgyz Republic

The National Bank of the Kyrgyz Republic announced on Wednesday that Abdybaly Tegin Suerkul will no longer serve as its banks deputy chairman.

Suerkul was relieved from the post after a decree of the president of the Kyrgyz Republic said Suerkul's tenure expired. He will continue working with the National Bank as an adviser to the chairman. Suerkul will also oversee the reforms launched in the bank, including the transition to a new model of monetary policy meant to stabilize interest rates, providing support to reduce the average level of inflation and the development of financial instruments.

While working as the deputy chairman, Suerkul oversaw the bank's activities in the development and implementation of monetary and exchange rate policies. He also helped introduce a system of research and create a scientific advisory council and research center.

Suerkul began working in the National Bank's leadership in 1992. While at the National Bank he headed the Department of Emission and Cash Operations, acted as head of the Banking Supervision Department and served as a member of the board.

Suerkul worked as a consultant for the World Bank in the private and financial sector between 2004 and 2007. He was appointed deputy chairman of the National Bank in February 2007.