New law for financial supervision
21/05/2014 00:00
Redundant guards and employed prisoners left without salaries even though the fund was allocated 5 months ago 27/11 21:15
A law amend proposed by the Commission of Laws in the last minute, has
created a stalemate with the new law for the Financial Supervision
Authority, recommended by the World Bank.
The proposal that affects the way how the Board of Directors is selected, according to the Authority director will bring an interruption of mandates.
“Claiming that some people coming from outside, and who have no experience, will lead this Institution better… I think it will be very difficult. I am not including myself here. I am a technician with 21 years of education, but I want to defend the institution”, declared Enkelejda Shehi, Director of the Financial Supervision Authority.
“No one has written or claims that the entire staff of the institution will change, or other things that are being said here. There is only one article demanding a change for the way how the Board of Directors of the Financial Supervision Authority works, and nothing more”, declared Erion Brace, Chairman of the Parliamentary Commission of Economy.
The Deputy Minister of Finances, Ervin Mete, rejected the claims of the Authority and declared that the new draft only increases the independence of this institution from the government.
“Today we have five propositions from the government in seven in total. The new amend will make it two from five. Most come from outside the government. One from the Commission of Laws, one from the Commission of Economy, and one from the Bank of Albania”, declared Ervin Mete.
“If the institution will be stained because of one or two names, it is more honest for the Ministry of Finances to review these names than proposing candidacies and structures in the last minute”, declared Enkelejda Shehi.
Despite the government’s explanations, Gjovalin Kadeli from the Socialist Movement for Integration asked an interruption of the session for giving more time to the Socialist Movement for Integration for reviewing the changes.
This draft is part of a legal package recommended by the World Bank and the International Monetary Fund, as an urgent intervention for reducing the dangers of the financial market. This package was a condition for the 320 million EUR loan that the World Bank gave for the Albanian government.
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