Gazi İshak Kara, Ph.D.

Deputy Governor

Gazi İshak Kara was born in 1982 in Erzurum and completed his primary and secondary education in Bursa. Dr. Kara graduated from Istanbul University Department of Business Administration in 2004 and earned his M.A. in Economics from Boğaziçi University in 2008, following a one-year research fellowship at Birkbeck College, University of London. He received his Ph.D. from the University of North Carolina at Chapel Hill in 2013 with a dissertation titled “Essays on International Financial Regulation.”

Dr. Kara began his academic career as a research and teaching assistant at Boğaziçi University (2006–2007) and the University of North Carolina at Chapel Hill (2008–2013). In 2013, he joined the Federal Reserve Board (Fed) as an Economist in the Division of Financial Stability, subsequently serving as Senior Economist and Principal Economist. In 2023, Dr. Kara was appointed Chief of the Financial Stability Assessment Section at the Fed.

Throughout his career, Dr. Kara has also served as a visiting scholar at institutions including the Bank for International Settlements (BIS) and Boğaziçi University. His research, focusing on banking, financial stability, and international economics, has been published in leading international economic journals. He has presented at numerous national and international conferences and served as a referee for several prestigious journals.

Dr. Kara was appointed Deputy Governor of the Central Bank of the Republic of Türkiye on February 3, 2026.

Gazi İshak Kara, Ph.D.