Turkish Central Bank Gov. Murat Çetinkaya is set to co-chair the Financial Stability Board (FSB) for the Middle East North Africa (MENA) region, according to a press statement released by the international body on May 15.
The FSB is an international body that monitors and makes recommendations about the global financial system. The organization brings together senior policy makers from ministries of finance, central banks, and supervisory and regulatory authorities for the G-20 countries, plus four other key financial centers – Hong Kong, Singapore, Spain and Switzerland, according to its website.
Çetinkaya will assume the position on June 30, read the statement.
The non-FSB members of the Regional Consultative Group (RCG) MENA appointed Abdulla Saoud al-Thani, governor of the Central Bank of Qatar as the non-FSB member co-chair, it added.
The terms of the new co-chairs are for two years, commencing on July 1, according to the statement, which was released after the FSB RCG for the MENA region met in Abu Dhabi at an event hosted by the Central Bank of the United Arab Emirates.
They discussed regional vulnerabilities, banking supervision issues and correspondent banking, among others, according to the statement.