22 Jun 2009 14:33

Duma committee recommends new term for Central Bank chief

MOSCOW. June 22 (Interfax) - The State Duma's Financial Markets Committee has recommended extending Sergei Ignatyev's tenure as chairman of the Central Bank.

The Duma will consider the matter at a session on June 24.

President Dmitry Medvedev nominated Ignatyev for another four-year term in early June.

"I have decided to submit your nomination as chairman of the Central Bank to the State Duma," Medvedev told Ignatyev at a meeting in the Kremlin in early June.

Ignatyev has been Central Bank chairman since March 20, 2002.

A nominee for the post of Central Bank chairman is appointed to a four-year term by a simple majority in the State Duma. The president nominates candidates. The Central Bank chairman may not serve more than three consecutive terms.