Baku, Azerbaijan, July 25
Iran’s cabinet of ministers appointed Abdolnaser Hemmati as the new head of the Central Bank of Iran (CBI).
The decision for replacing Valiollah Seif with Hemmati was announced after a session of the ministers’ cabinet on July 25, Iran’s state-run IRINN TV reported.
Hemmati, who is a faculty member at Tehran University, had previously served as the president of Central Insurance of Iran and CEO of Iran’s Bank Melli.
He recently was appointed as new ambassador of Tehran to China.
Valiollah Seif, served as the CBI head since 2013, had over 30 years of banking experience as Finance Director, Board Member, Chairman of the Board and Managing Director of several Iranian banks.
Last week, the Iranian president’s Chief of Staff, Mahmoud Vaezi, confirmed that there would be some changes in the country’s cabinet posts in the near future, saying President Hassan Rouhani is considering some changes in his cabinet, given the fact that the country is facing new conditions, following the US withdrawal from nuclear deal and re-imposition of sanctions.
Vaezi added that Rouhani will make changes in his economic team as well.
US President Donald Trump announced on May 8 that Washington was walking away from the nuclear agreement, officially known as the Joint Comprehensive Plan of Action (JCPOA), which was reached in 2015 between Iran and the five permanent members of the UN Security Council - the United States, Britain, France, Russia and China - plus Germany.
The first part of the US sanctions targeting Iran's automotive sector, trade in gold, and other key metals will be re-imposed on August 6.