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Elvira Nabiullina

Russian Federation

Ms. Nabiullina served as the Economic Adviser to Russian President Vladimir Putin. She is a former Minister of Economic Development and Trade and Deputy Minister of Economy.

Elvira Nabiullina is known for her significant contributions to Russia’s banking and economic sector.

Elvira Nabiullina, born on October 29, 1963, in Ufa, Bashkortostan, Russia, is a distinguished Russian economist and head of the Central Bank of Russia. Throughout her career, she has been at the forefront of many of Russia’s economic policies and initiatives, becoming a key figure in shaping the nation’s financial landscape.

Education: Nabiullina graduated from Moscow State University in 1986 with a degree in economics. Her academic background laid the foundation for future public service and financial sector roles.

Professional Career:

  1. Ministry of Economic Development and Trade: Nabiullina began her professional journey in the early 1990s, holding various roles in the Ministry of Economic Development and Trade. Her involvement here solidified her reputation as a knowledgeable and dependable economist.
  2. Advisor to the President: She was appointed an economic advisor to Russian President Vladimir Putin in May 2012. In this capacity, she provided strategic advice on economic issues and contributed to shaping the nation’s economic policies.
  3. Chairwoman of the Central Bank: In June 2013, Elvira Nabiullina assumed the role of Chairwoman of the Central Bank of Russia, becoming the first woman to hold this position. Under her leadership, the Central Bank adopted many significant measures to stabilize the Russian economy during challenging times. Her policies aimed to curb inflation, shoring up the Ruble, and restructure the banking sector to ensure its stability and resilience.

Key Achievements:

  • Banking Sector Reforms: Nabiullina is credited with overhauling Russia’s banking sector, leading to the closure of numerous weaker banks and bolstering the strength and reliability of the system as a whole.
  • Currency Policies: In response to economic challenges and sanctions, she played a vital role in transitioning Russia to a free-floating currency regime, which provided a buffer to external shocks and helped stabilize the Ruble.
  • International Recognition: Her exemplary leadership in Russia’s financial sector has been globally recognized. For instance, in 2015, Forbes magazine listed her among the world’s most powerful women.