TEHRAN (FNA)- Farhad Nili, director of the Monetary and Banking Research Institute (MBRI), was appointed as the official representative of the Central Bank of Iran (CBI) in the World Bank.

Ali Divandari - the former CEO of Bank Mellat and Parsian Bank- is reported to substitute Nili as the new MBRI‘s director.

The Monetary and Banking Research Institute (MBRI) - formerly known as Monetary and Banking Research Academy (MBRA) - is the research arm of the Central Bank of Iran and established in 1990. Its activity is focused on research, consulting and publishing.

By Fars News Agency