Thursday, October 23, 2014   

Bank of England names IMF’s Shafik to markets oversight role
(03-18 19:45)

The Bank of England said it had appointed Nemat Shafik, a deputy to IMF chief Christine Lagarde, to a new role providing oversight of financial markets and banking.
Shafik, a national of Egypt, Britain and the United States, has overseen the fund's work on countries in Europe and the Middle East, including on financially bailed-out euro zone members Greece and Portugal.
The appointment came as Governor Mark Carney looks to strengthen the BoE's structure amid a review of its processes triggered by an inquiry into suspected rigging of foreign exchange markets. A worker was suspended.
A Bank of England statement said that Carney and British Finance Minister George Osborne had “agreed to appoint Dr Nemat Shafik as Deputy Governor of the Bank of England responsible for markets and banking,’’ beginning in August.--AFP


   
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