On Tuesday Russian parliament approved former Economics Minister Elvira Nabiulina as the new head of Russia's Central Bank.

      The State Duma, the lower house of Russia’s parliament, voted by an overwhelming majority of 360 for her candidacy and just 20 against. The candidacy of Nabiulina was earlier nominated by Russian president.

      Nabiullina, who served as Russia’s economics minister from 2007 to 2012, will start her career at the post of the country's central banker from June 24. She will be the first female top banker in the G8 group.

      In her speech to parliamentarians, Nabiulina ensured the continuity and predictability of the Central Bank’s policy, but also promised to make some important changes.

      The Central Bank’s current chief, Sergei Ignatyev, has served three consecutive terms and he is not allowed to be nominated again, according to the Russian legislation.