Governor Şahap Kavcıoğlu's Written Statement

Governor Şahap Kavcıoğlu’s Written Statement

Under the duties and powers laid down by law, the Central Bank of the Republic of Turkey will continue to use the monetary policy tools effectively in line with its main objective of achieving a permanent fall in inflation.

The decline in inflation will foster macroeconomic stability through the fall in country risk premiums and a permanent improvement in financing costs, and will contribute to the development of conditions essential for sustainable growth that will enhance investment, production, exports and employment.

Accordingly, Monetary Policy Committee Meetings will be held as previously scheduled and announced to the public. In line with the transparency and predictability principles in policies, communication channels will be used effectively to address all the stakeholders (Central Bank of Turkey Republic).

Governor

The Governor is appointed for a term of four years by a decree of the President of the Republic. The Governor may be reappointed upon the expiration of this term.

The Governor is required to have received a higher education and to have acquired knowledge and experience in the fields of finance, economics and banking.

Duties, Representation and Powers

The Governor, as the most senior executive officer, administers and represents the Bank within the country and abroad.

The Governor is entrusted with the following powers:

To ensure the enforcement of the provisions of the CBRT Law and the decisions made by the Board,

To take necessary measures to carry out the duties with which the Bank is entrusted by the CBRT Law and to submit proposals to the Board whenever the Governor may deem necessary. 

Prof. Şahap Kavcıoğlu
Governor

Prof. Şahap Kavcıoğlu was born on 23 May 1967 in Bayburt. He graduated from Dokuz Eylül University, Faculty of Economics and Administrative Sciences, Department of Business Administration. He graduated from Istanbul University Institute of Accounting as an Audit Specialist and studied Business Administration at Hastings College, Prof. Kavcıoğlu received his master’s degree and Ph.D. from Marmara University Banking and Insurance Institute.

After serving as Assistant Inspector, Inspector, Branch Manager and Deputy General Manager at Esbank TAŞ, he worked as Deputy General Manager at Halkbank.

Mr, Kavcıoğlu, who was elected Bayburt Deputy from the Justice and Development (AK) Party in the 26th term parliamentary general elections of 1 November 2015, took on several duties during the term of his office as a Member of the Committee on Plan and Budget of the Grand National Assembly of Turkey and a Member of the Turkish Group at the Inter-Parliamentary Union (IPU). After August 2018, Mr. Kavcıoğlu served as Deputy Chairman of the Board of Directors of Vakıfbank, and as Chairman of the Board of Directors of Vakıf Real Estate Investment Trust, one of its affiliates.

Mr. Kavcıoğlu is married and a father of three children.

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