Erdogan sacks the Deputy Governor of the Turkish Central Bank


Turkish President Recep Tayyip Erdogan, on Tuesday, sacked Murat Çetinkaya, deputy governor of the Turkish Central Bank.

And this is ten days after the dismissal of the governor of the Turkish Central Bank, Naci Agbal.


Mustafa Duman (a well-known Turkish banker) was also appointed to the position by Erdogan.

Mr. Duman was previously one of Morgan Stanley’s directors.

The local news agencies that published the news did not give any reason for the dismissal of Çetinkaya, the former director of the Istanbul Stock Exchange.

Earlier, the Daily Sabah newspaper reported: In recent days, after the dismissal of Naci Agbal from the post of Governor of the Turkish Central Bank due to a 2% increase in interest rates by Erdogan.

The Turkish lira has depreciated significantly and the country’s stock index also went down.


But Turkish President Recep Tayyip Erdogan responded by saying that the recent fluctuations in the financial markets do not reflect the reality of the Turkish economy, and that foreign investors should be confident in the strength of the Turkish economy.

Speaking among AKP members in Ankara, Erdogan urged Turkish citizens who keep foreign currencies or gold in their homes to introduce these assets into the production cycle and the country’s economic system.