BIS Appoints Cecilia Skingsley as Head of Innovation Hub

The Bank for International Settlements (BIS) has appointed Cecilia Skingsley as the head of its innovation hub.

• Skingsley will spearhead the BIS Innovation Hub's efforts to build technological solutions for central bank digital currencies (CBDC), cybersecurity, green finance, etc.
• Skingsley is currently the first deputy governor of Sveriges Riksbank, the Swedish central bank.
• The international financial institution has been focusing on CBDC's recently. In March, BIS completed a multi-country CBDC viability test called "Project Dunbar". Project Dunbar was an effort by the central banks of Australia, Malaysia, Singapore and South Africa to check the cross border viability of CBDCs, which was found to be viable by the participating banks.
• "Ms Skingsley will lead the Innovation Hub in its mission to foster international collaboration among central banks on innovative financial technology," the press release said on Tuesday.
• She will join BIS on September 14 this year for a five year term. As head of the BIS Innovation Hub, she will also be a member of the executive committee of BIS.