FX.co ★ Russian State Duma extends Elvira Nabiullina's term of office as Central Bank chief

Not many Russians can properly appreciate professionalism and high level of expertise of Elvira Nabiullina, the head of the Central Bank of Russia. However, both the international banking community and the Russian authorities have a high opinion of Nabiullina’s performance.

Elvira Nabiullina leads the Central Bank through the most difficult times for the Russian economy. The bank faces international sanctions, weak oil prices and, as a result, weak national currency. In addition, the Bank of Russia is strictly controlled by the government and can not always make independent decisions. Given all these circumstances, the fact that the Bank of Russia still keeps its head above water gives us a reason to admire the leadership skills of the bank's head. Besides, last year Elvira Nabiullina was recognized as the best head of the Central Bank in Europe. Therefore, it was not a surprise when the State Duma voted to extend the term of office of Elvira Nabiullina as the Central Bank’s Governor for another 5 years. Nabiullina's candidacy for this position was personally presented by Russian President Vladimir Putin, therefore, the State Duma had no other options but to vote unanimously for his proposal. Elvira Nabiullina has been occupying the post since June 24, 2013. In 2007-2012, she worked as the Minister of Economic Development and Trade of Russia. She graduated from the Economy Department of the Moscow State University and participated in the 2007 Yale World Fellows Program.