The father of the National Bank\u2019s new governor has been appointed an \u201chonorary governor\u201d with rank equivalent to a senior minister in a recent royal decree.<\/p>\n\n\n\n
Chea Chanto, 71, has long served as the central bank governor, but is handing over<\/a> the position to his daughter, Chea Serey.<\/p>\n\n\n\n Serey \u2014 alongside Deputy Prime Minister Yim Chhay Ly\u2019s son Yim Leat and Senate president Say Chhum\u2019s daughter Say Samath \u2014 were named as governor and deputy governors of the National Bank in a royal decree dated July 29.<\/p>\n\n\n\n Another royal decree signed the same day, and published by government mouthpiece Fresh News today, assigns the outgoing Chanto a new role as \u201chonorary governor\u201d at the bank, with rank equivalent to senior minister.<\/p>\n\n\n\n Chanto also ran as Kampong Thom\u2019s top National Assembly candidate for the ruling Cambodian People\u2019s Party in the July 23 election.<\/p>\n\n\n\n The move is part of an ongoing succession<\/a> within the CPP that is transferring the prime ministership from Hun Sen to his son Hun Manet. A series of further handovers of positions within families is anticipated.<\/p>\n\n\n\n Hun Sen, who will be moving to the Senate, said on Thursday<\/a> that he would have two senior officials, current National Police chief Neth Savoeun and Transport Minister Sun Chanthol, serve as two of Manet\u2019s deputies.<\/p>\n\n\n\n The swearing in of new lawmakers and ministers is scheduled for August 22.<\/p>\n\n\n\n