TEHRAN -- The government has reached the final phase of the process of appointing a new Central Bank of Iran (CBI) governor and will soon announce its decision.

Last week the minister of economic affairs and finance nominated Ebrahim Sheybani to the post.

If President Mohammad Khatami approves the appointment, Sheybani will begin work next week.

Former CBI governor Mohsen Nourbakhsh passed away last month after running the bank for years.