Timur Ishmetov to become Central Bank’s new Chairman

According to the presidential press service, Shavkat Mirziyoyev has presented Ishmetov’s candidacy to the Senate for the position of Central Bank Chairman.

Today, December 11, he will replace Mamarizo Nurmuratov, who was relieved of his duties as Chairman of the Central Bank.

Timur Ishmetov was born in Tashkent in 1979. He graduated from the Tashkent Financial Institute in 2000 and received a master’s degree in finance and banking from the University of Birmingham in 2005. In 2007, he graduated from Tashkent Law University with a degree in law.

He has spent 19 of his 24 years of professional experience at the Central Bank.

His career began in 2000 as an economist at the Central Bank. From 2001 to 2004, he served as a senior expert-analyst and head of the Foreign Exchange and External Relations Department. From 2004 to 2008, he worked in the Monetary and Credit Operations Department. Between 2008 and 2009, he headed the International Reserves Management Department, and from 2009 to 2010, he led the Internal Foreign Exchange Market Operations Department. From 2010 to 2017, he was in charge of the Currency Management and Control Department.

There was a brief interruption in Ishmetov’s career at the Central Bank in 2017: in April of that year, he was appointed First Deputy Chairman of the State Committee for Investments. However, in June, he was reassigned as First Deputy Chairman of the Central Bank when Mamarizo Nurmurodov was appointed Chairman.

Amid changes in the leadership of the Central Bank, a currency reform was implemented in the country in September 2017.

After serving for two years as First Deputy Chairman of the Central Bank, Timur Ishmetov was transferred to the position of First Deputy Minister of Finance in May 2019. In February 2020, he was appointed Minister of Finance, a position he held until the end of 2022.

In December 2022, he was appointed First Deputy Adviser to the President of Uzbekistan on issues of economic development, investment, and foreign trade policy.