Abdolnasser Hemmati, the governor of the Central Bank of Iran, on Monday officially appointed Farhad Hanifi the new deputy for supervisory affairs. He replaces Farshad Heidari who was selected as the new head of the Iran Banking Institute the same day. According to a statement published by CBI on its official website, Hanifi has extensive experience in the Iranian financial and banking sectors. He was the chief executive of the National Development Investment Group affiliated with Bank Melli, served as the deputy chairman of the board of the private Eghtesad Novin Bank, was a board member of the private Parsian Bank and acted as the advisor to the CEO of Refah Bank. Hanifi has a PhD in financial management.