Parliament Appoints New Member to Central Bank’s Board of Directors

By Kyaw Hsu Mon 12 August 2016

RANGOON — The Union Parliament appointed Bo Bo Nge, a member of the National League for Democracy’s (NLD) economic committee, to the board of directors of the Central Bank of Myanmar (CBM).

Committee member Bo Bo Nge’s nomination came in a letter sent from President Htin Kyaw to Parliament on Tuesday. Mahn Win Khine Than, speaker of the Upper House, announced the approval of his appointment during the parliamentary session on Friday, after no objections had been raised since discussion was opened to lawmakers on Tuesday.

Bo Bo Nge, 48, is a Ph.D candidate in the Department of Financial and Management Studies at the School of Oriental and African Studies, University of London. He recently joined the NLD’s economic committee as a banking expert and is the head of research and risk management at KBZ Bank.

He becomes the newest member of the board of the Central Bank, and will work alongside eight other members. Kyaw Kyaw Maung, 75, was elected governor of the CBM under the previous government in 2013 and will serve a five-year term. Three deputy governors and four additional members round out the board, serving four-year terms.

Bo Bo Nge will fill the post left by Maw Than, who was appointed auditor-general when the NLD assumed power in April.