Central Bank Governor Dismissed
Reliable sources have confirmed the dismissal of Central Bank Governor Burai Al-Siddiq from his position.
According to the sources, the decision was made due to the Governor’s unilateral actions in making key financial and monetary policy decisions. His interventions in managing the exchange rate reportedly led to significant volatility, in violation of the Central Bank’s established monetary policy.
The sources further pointed to a lack of coordination with the Ministry of Finance, the economic sector ministries, and relevant agencies responsible for maintaining monetary stability amid the ongoing wartime conditions.
Reports also cited confusion surrounding the Governor’s proposal for a new mechanism to price gold domestically in an attempt to narrow the gap with international prices.
Sources indicated that Governor Al-Siddiq left a recent meeting—attended by the Minister of Finance, Customs officials, and gold export companies—angrily, following disagreements over gold policy.
Insiders at the Central Bank expect further dismissals of 11 department and branch directors in the coming period.
It is worth noting that General Abdel Fattah Al-Burhan, Chairman of the Sovereign Council, appointed Burai Al-Siddiq Ali Ahmed as Central Bank Governor in March 2023, succeeding Hussein Yahya Jangoul.
