A Norwegian national was named Friday as interim governor of the central bank of Iceland, the day after parliament approved sweeping changes to the composition of the central bank.
The bill replaces the current system of three governors with a single governor and and deputy governor, and introducing a monetary policy committee.
It also stipulates that the position of head of the national bank would also only be open to trained economists, ending central bank governor David Oddsson's tenure.
The former prime minister (1991-2004) and foreign minister was named central bank governor in 2005. He was trained as a lawyer.
Oddsson, 61, has been criticized for policies that allowed the banking sector to expand massively, racking up liabilities some 10 times that of the North Atlantic nation's economy.
Iceland came close to collapse in the wake of the global credit crunch in October, and faces surging unemployment and high interest rates.
Mass protests forced the former government to resign in January, and interim Prime Minister Johanna Sigurdardottir took office.
Her minority government's main task is to guide the country until fresh elections April 25, but also drafted the bill changing the composition of the central bank.
Norwegian daily Aftenposten reported that former deputy governor of the Norwegian central bank Jarle Bergo was a possible choice as interim governor of the Icelandic central bank, Sedlabanki.