Russian State Duma confirms Nabiullina as Central Bank governor for another 5 years

MOSCOW. April 21 (Interfax) - The Russian State Duma at a meeting on Thursday has confirmed current Central Bank Governor Elvira Nabiullina for another five-year period beginning on June 24.

The Russian president submits the nomination for the post of CBR governor to the State Duma within three months of the expiration of the current governor's term, with the president having submitted his nomination on March 18 this year. The State Duma confirms the nominee for CBR governor for a five-year period via a simple majority of votes; thus, the powers of the regulator's current governor expire on June 24, 2027.

The CBR governor has been confirmed for a five-year period since July 2013, prior to which the appointment period had been for four years. The same person is not permitted to serve more than three consecutive terms as CBR governor.

Nabiullina has been the CBR governor since June 2013, having previously been an assistant to the Russian president, Economic Development Minister, and president of the Center for Strategic Research Foundation.