Naci Ağbal, the former governor of Turkey’s central bank, has been hired as vice chairman of Kazancı Holding and subsidiary Aksa Enerji, the Dünya newspaper reported.
Ağbal will act as head of globalisation strategies and financial affairs at the company, which was formed in the 1950s and specialises in the energy sector, Dünya said on Thursday.
Turkish President Recep Tayyip Erdoğan sacked Ağbal in March last year after he increased interest rates sharply to deal with inflation during his four-month tenure. The central bank under replacement Şahap Kavcıoğlu has cut interest rates and then held them steady, helping to spur inflation to an annual 79.6 percent, the highest level in industrialised economies and emerging markets.
Ağbal, who served as Turkey’s finance minister between 2015 and 2018, will also take on an active role on the board of Aksa Elektrik, Dünya reported.
The former governor’s appointment “will add great strength and value to us both in the formation of our global strategy and in shaping our strong financial structure in line with our global strategy,” Kazancı Holding said in a statement.