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Kuwait picks acting head of central bank as new governor after resignation of longtime leader
DUBAI, United Arab Emirates (AP) ' Kuwait is promoting the central bank's deputy governor to the institution's top spot following the resignation of its long-serving leader last month.
Deputy Prime Minister and Minister of Finance Mustafa al-Shimali told state news agency KUNA on Sunday that the Cabinet has approved the appointment of Mohammed Yusef al-Hashel as governor of Kuwait's central bank.
Al-Hashel has served as the acting head of the bank since the resignation last month of former governor Sheik Salem Abdulaziz Al-Sabah, a member of the country's ruling family.
Sheik Salem led the bank for more than 25 years. He had expressed concerns about a rapid rise in government spending, including substantial wage increases for oil workers and others.