Born in Uşak in 1947, Mr. Yılmaz obtained his BA in Economics from the City University of London and his MA degree from the University College, University of London. Mr. Yılmaz started to work in the Foreign Exchange Department at the Central Bank of Turkey in 1980. He worked in the areas of Foreign Debt Rescheduling, Exchange Rates and Foreign Exchange Reserve Management. He became Deputy Director of Foreign Exchange Transactions Division in 1993, Director of Interbank Money Market Division in 1995, and Director of Balance of Payments Division in 1996. Mr. Yılmaz was promoted to Deputy Executive Director at Markets Department in 1996 to supervise Foreign Exchange Risk Management, Credits, Foreign Exchange and Foreign Banknotes Markets and Open Market Operations. He was appointed Executive Director of the Workers’ Remittances (Non-Residents FX Deposits) Department in 2002. Mr. Yılmaz was elected Member of the Board in the Shareholders Ordinary General Meeting held on 7th April 2003. Having served as Board Member between May 2003 and April 2006, Mr. Durmuş Yılmaz was appointed Governor of the Central Bank of the Republic of Turkey on 18th April 2006.