Turkish President Recep Tayyip Erdogan has appointed Professor Semih Tumen, the new deputy governor of the Central Bank, to replace Oguzhan Ozbas.

The appointment was ordered by decree of President Erdogan, which was published in the Official Gazette on Tuesday morning.

Professor Semih Tumen was born in 1977, studied economics at the Middle East Technical University, and completed his study of economics in London in 2006, and obtained a master's degree from the University of Chicago in 2007, then obtained a doctorate from the same university in 2012.

In March, Erdoan fired the head of the Central Bank, Naci Agbal, and replaced him with a former lawmaker for the ruling party.

Later that month, Erdogan, who had unconventional theories about monetary policy and its impact on inflation, replaced Deputy Governor Murat Cetinkaya.