July 9, 2018 / 1:59 PM / a month ago

Turkey removes clause on 5-year term for central bank governor

ANKARA, July 9 (Reuters) - Turkey on Monday removed a clause that stipulated a five-year term for the central bank governor, making the changes in an emergency decree published shortly before President Tayyip Erdogan took oath for his new presidential term.

The decree, published in the government’s Official Gazette, removed a clause that had stated: “The governor is appointed by a cabinet decision for a term of five years. (The governor) can be re-appointed at the end of this period”.

The decree did not state what the alternative term length, or re-appointment process for the central bank governor would be. (Reporting by Tuvan Gumrukcu and Ece Toksabay; Editing by David Dolan)

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