Smolii tapped to head National Bank of Ukraine

Updated

Some 247 Members of Parliament voted for this decision.

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First Deputy Governor of the National Bank of Ukraine (NBU) Yakiv Smolii has been tapped to head the NBU.

Some 247 Members of Parliament voted for this decision. The required minimum of votes is set at 226.

This is stipulated in resolution No. 7501.

Read alsoParliament sacks central bank chief Gontareva

Addressing the parliament before his appointment, Smolii said: "It is a great honor and responsibility to take charge of the National Bank of Ukraine. I unequivocally confirm the NBU’s commitment to reforms. Our goals remain unchanged. First. To maintain price and financial stability. Second. To promote economic growth. Third. To integrate Ukraine's financial system into the European one. Over last three years, the NBU has managed to stabilize the macroeconomic situation, make the banking sector healthier, and introduce important innovations, such as inflation targeting and floating exchange rate. The NBU team will continue to shape the modern and open central bank trusted by the society."

As UNIAN reported earlier, Ukraine's parliament on March 15 voted on Ukrainian President Petro Poroshenko's motion to dismiss Valeriya Gontareva from the NBU head's post.

UNIAN memo. NBU Governor Valeriya Gontareva tendered a letter of resignation to Ukrainian President Petro Poroshenko on May 10, 2017, after a three-year tenure. Until her dismissal, she was on long-term leave. Since May 11, 2017, the NBU had been headed by her first deputy, Yakiv Smolii.

Poroshenko tabled the Gontareva dismissal motion on January 18 in keeping with the Constitution of Ukraine. Draft resolution No. 7500 on Gontareva's dismissal was endorsed by the parliament's committee for financial policy and banking.

Yakiv Smolii became the tenth Governor of the National Bank in the history of independent Ukraine. He has been working in the Ukrainian banking sector since its earliest days. He also has extensive technology experience, having started his career in banking software and IT. In 1994, he became Head of the Automation Office at the Aval Joint Stock Post Pension Bank. Smolii was later promoted to Deputy Chairman of the Board at the Bank. He joined the National Bank of Ukraine team in April 2014 and since then has held the position of the Deputy Governor of the National Bank, supervising settlement transactions.

Smolii had been First Deputy Governor of the National Bank of Ukraine since October 2016.

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