Elvira Nabiullina (photo by
Alexey Druzhinin, RIA Novosti)
On the afternoon of
9 April the State Duma, by a vote of 360 to 20 with one abstention, confirmed
the nomination of Elvira Nabiullina (Эльвира Сахипзадовн Набиуллина),
49, to head the Central Bank of the Russian Federation (Центральный банк
Российской Федерации) when the term of the present Chairman, Sergey
Ignatiev, expires on 24 June. The term of
office of a Chairman of the Central Bank is four years.
As reported in an earlier
article in this column, Ms. Nabiullina, a close advisor of President
Vladimir Putin, was nominated for the position by Putin on 12 March. In the Duma her nomination was supported by Medvedev’s
“United Russia” (Единая Россия) party, the Liberal Democratic Party (ЛДПР),
and by several members of the “A Just Russia” (Справедливая Россия) party, while the Communist
Party (КПРФ) was opposed to her candidacy.
Because Russia ’s financial
markets regulator – the Federal Financial Markets Service (Федеральная
служба по финансовым рынкам) – is due to be merged with the Central Bank by
the end of 2014, Nabiullina will become the first “mega-regulator” in Russia , overseeing both
banking and financial markets.
Nabiullina’s most
important success to date is considered to be her role in leading Russia ’s negotiations on
accession to the World Trade Organization (WTO) to a successful conclusion in
2011.
In an earlier interview
with RIA Novosti, Nabiullina said that she did not plan any major personnel
shakeups at the central bank, and that the central bank’s inflation target for
2013 would be 5-6%.
Nabiullina is
regarded by those who know her as very honest and a workaholic. She is said to like classical music and
French films, and to own a Jaguar S-Type.
Sources:
Earlier article by RIA Novosti: Эльвира Набиуллина:
трудоголик, стратег и глобалист (2013-04-09 17:21 )
Mark Pleas
[contact]