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AMLO to appoint former Mexican senator as Bansefi's chief

Mexican President-elect Andrés Manuel López Obrador confirmed his intention to appoint former Senator Rabindranath Salazar as the new chief of state-run Banco del Ahorro Nacional y Servicios Financieros SNC, Mexican news outlets reported.

AMLO, as the president-elect is known, made the confirmation during a tour of the Mexican state of Yucatán, El Financiero reported.

Salazar recently worked as the coordinator of AMLO's election campaign in the regions of Puebla, Morelos, Mexico City, Tlaxcala, Hidalgo and Guerrero.

Banco del Ahorro will be known as Banco del Bienestar del Pueblo once AMLO's government takes power in December. The bank will help the government meet its financial inclusion targets by offering support for student scholarship programs and venturing into Mexico's most remote communities.

According to a report in El Economista, the bank will allow Mexican citizens to tap social support funds using a personalized card, without any intermediary.