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Turkmen president sacks Central Bank governor, CEOs of two state-run commercial banks

January 10, 2014, 23:47 UTC+3 ASHGABAT
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ASHGABAT, January 10, 23:26 /ITAR-TASS/. President of Turkmenistan Gurbanguly Berdymukhamedov has sacked governor of the country’s Central Bank and CEOs of two state-run commercial banks “for drawbacks they did in their work,” the national television reported on Friday.

Berdymukhamedov signed decrees firing Tuvakmammet Dzhaparov (Central Bank), Nurgeldi Sazakov (Presidentbank) and Begench Akmammedov (Daikhanbank) at today’s meeting of the government.

In December 2013, the Turkmen president issued severe reprimands to the CEOs of ten Turkmen banks, including to the governor of the Central Banks for illegal payment of big bonuses on occasion of national holidays. The president demanded that these monies be returned to the state treasury.

Also on Friday, Berdymukhamedov appointed Gochmurad Muradov, chairman of the state commercial bank Turkmenistan, to the post of the Central Bank governor.

Almost all Turmenistan’s banks are controlled by the state. The only private bank, Rysgal, was established in 2011 by the country’s Union of Industrialists and Entrepreneurs.

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