Mimoza Kaçi's mandate ends/ A new director is sought for the AFSA

2025-10-09 08:29:00, Aktualitet CNA

The position of Chief Executive Officer of the Financial Supervisory Authority will be vacant starting in October, after the end of the mandate of the existing head, Mimoza Kaçi.

Mimoza Kaçi was appointed to the AFSA Board for the second time in 2020, as Deputy Executive Director. Then, at the end of 2023, she was appointed as Executive Director General, to complete the mandate of former member, Ervin Mete.

For Mimoza Kaçi, the current mandate was the second on the AFSA Board. The Law “On the Financial Supervisory Authority” provides that members of the AFSA Board have the right to re-election only once.

The law allows a Board member to remain in office for up to three months after the end of the mandate. Upon the end of the three-month term, the member whose mandate has ended may no longer remain in office. In the case of the Chief Executive Officer, the powers are temporarily transferred to the Deputy Chief Executive Officer. Currently, this position is held by Merita Gurabardhi.

According to the law, the candidacy for the Board member who holds the position of the General Executive Director of the AFSA is approved by the Parliament, upon the proposal of the Council of Ministers. The Prime Minister's Office made a public announcement in July for applications from interested candidates. The deadline for submitting applications was August 29, but so far the Council of Ministers has not officially approved a candidacy to propose to the Parliament of Albania.

The law requires that the candidate for AFSA Board Member have completed the full cycle of university studies in the fields of economics, law or actuarial science and have at least 7 years of professional experience, of which at least 5 years in finance-accounting, administration of commercial companies, legal advice to commercial companies, drafting legislation, actuarial science or social security and pensions.

The provisions of the AFSA organic law significantly limit the spectrum of potential candidates who can be members of the AFSA Board, including the position of the Chief Executive Officer. According to the law, persons who have been partners, shareholders, or members of the management bodies of supervised entities in the last three years; have family ties with the persons provided for in letter “a” of this paragraph; have been part-time or full-time employees in supervised entities in the last three years cannot be members of the Authority’s Board./ Monitor