Erdogan allows working academics to serve on bank council

A decree by Turkish President Recep Tayyip Erdogan published in the Official Gazette allows academics to work as central bank officials without quitting their jobs at universities, reports Ahval.

According to the Diken news site, the decree grants an exception to the law on the central bank stating that members on its council may not carry out any duty outside the bank. “According to the decree, the duty of academic membership at state universities subject to the higher education personnel law and the membership of the Central Bank Council can be combined,” Diken said.

The ruling Justice and Development Party made a similar change to the bank’s law earlier for Murat Cetinkaya, former chief executive of the Istanbul Stock Exchange, which allowed him to be appointed to head the central bank despite holding a degree in political science and sociology. Earlier, officials at the top levels of the central bank required degrees in economics, finance or related subjects. Following the change, Cetinkaya was appointed as the central bank governor in 2016, but Erdogan later replaced him in July 2019 after he refused to follow orders and slash interest rates.
Full report on the Ahval site