Monday, March 26, 2012

Kuwait names new central bank governor

(AP) ? Kuwait is promoting the central bank's deputy governor to the institution's top spot following the resignation of its long-serving leader last month.

Deputy Prime Minister and Minister of Finance Mustafa al-Shimali told state news agency KUNA on Sunday that the Cabinet has approved the appointment of Mohammed Yusef al-Hashel as governor of Kuwait's central bank.

Al-Hashel has served as the acting head of the bank since the resignation last month of former governor Sheik Salem Abdulaziz Al-Sabah, a member of the country's ruling family.

Sheik Salem led the bank for more than 25 years. He had expressed concerns about a rapid rise in government spending, including substantial wage increases for oil workers and others.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-03-25-ML-Kuwait-Central-Bank/id-8b5edf8a755a46c19fa6aef57d4dfdea

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