Durmuş Yılmaz

Durmuş Yılmaz MP
Member of the Grand National Assembly
In office 7 June 2015 – 1 November 2015
Constituency	Uşak (June 2015)
Governor of the Central Bank of Turkey
In office April 18, 2006 – April 18, 2011
Preceded by	Süreyya Serdengeçti
Succeeded by	Erdem Başçı
Personal details
Born	1947 (age 69–70) Uşak, Turkey
Nationality	Turkey
Political party	Nationalist Movement Party
Alma mater	Cass Business School, University College London
Occupation	Civil servant
Profession	Economist

Durmuş Yılmaz is a Turkish economist and was the Governor of the Central Bank of the Republic of Turkey between 2006 and 2011. He currently serves as a Member of Parliament for the electoral district of Uşak since the June 2015 general election, as a politician from the Nationalist Movement Party (MHP).

Biography

Born in the western Anatolian city of Uşak in 1947, Yılmaz obtained a B.A. degree in economics at City University London and received his M.A. degree from the University College London.^[1]

Yılmaz joined the Central Bank of Turkey in 1980 and started to work in the Foreign Debt Rescheduling Division. Then he served in the area of Exchange Rates and Reserve Management. He was promoted to the post of Deputy Director of Foreign Exchange Transactions Division in 1993, Director of Interbank Money Market Division in 1995, and Director of Balance of Payments Division in 1996. Yılmaz became Deputy Executive Director at Markets Department in 1996 and was responsible for the Foreign Exchange Risk Management, Credits, Foreign Exchange and FX Banknotes Markets and Open Market Operations. He was appointed Executive Director of the Workers’ Remittances (Non-Resident FX Deposits) Department in 2002. Yılmaz became a Member of the Board on May 1, 2003, and re-elected to this position by April 2006.

Durmuş Yılmaz was appointed Governor of the Central Bank of the Republic of Turkey on April 18, 2006 following the approval of President Ahmet Necdet Sezer. One month before, Sezer rejected the government's first candidate for the post, Adnan Buyukdeniz, chief executive of AlBaraka Turk, an interest-free financial institution founded with Arab capital. The post of governorship was held by Erdem Başçı, an interim governor since March 14, 2006 when the widely respected Süreyya Serdengeçti retired at the end of a five-year term that saw chronic inflation drop from double- to single-digit figures for the first time in three decades under a tight program backed by the International Monetary Fund.

External links

• Newspaper Dünya

References