Iranian President Hassan Rohani on 26 August issued a decree appointing Valiollah Seif new Governor of the Central Bank of Iran (CBI) to replace outgoing head Mahmoud Bahmani.

The appointment of an experienced banker is part of the new administration’s plan to revamp the country’s economic team and improve the livelihood of people. Dr Seif is expected to start his difficult task by targeting inflation, but at the same time he said that there was no quick end to Iran’s economic difficulties. (CONTINUED - 799 WORDS)