The Deputy Governor of the Turkish Central Bank taps into experience from his unique career.
Cevdet Akçay was appointed as the Deputy Governor of Turkey’s Central Bank in July 2023. Akçay has a unique career that combines academia, private sector, and government service which he considers a blessing: “My academic background boosted my chief economist performance and my market experience immensely improved my teaching performance, albeit at the expense of pure academic research. My position as the Deputy Governor of the Central Bank of the Republic of Türkiye is presumably the ‘last dance’ of my career, and my experience in the two previous positions proved to be very useful already, as I am able to wear two hats at the same time or switch hats in order not to suffer from ‘insider bias.’ My motto professionally has been to be ‘an outsider inside,’ so as to render my decision making as bias-proof as possible.”
When asked about how RC contributed to his career, Akçay expresses his gratitude: “I did have a difficult, exhausting career, particularly because of the stance I chose to adopt. I felt outcasted, ostracized, even ridiculed during certain stages, but never thought of ‘adjusting myself’ or ‘positioning myself accordingly.’ Refraining from such attitudes came as a reflex and required no effort on my part. That intrinsic sense of security I tend to attribute first and foremost to my dearest late mother, and the aura of security and freedom I was fed at RC. The feed was so subtle, so genuine, and so comforting. It is the less tangible portion of education and also the rarest.”
Published January 2024
