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The position of the chairman of the AMF Board is still vacant, the Assembly opens applications again

2024-11-18 07:33:00, Aktualitet CNA

The position of the chairman of the AMF Board is still vacant, the Assembly

The Assembly of Albania reopened in mid-November the applications for the position of the member of the Board of the Financial Supervision Authority, who will also hold the position of the chairman.

The reopening of the vacant seat came after on October 17, the deputies rejected in the plenary session the only candidacy proposed by the Economy and Finance Commission, that of Pajtim Melani.

Initially, this position was declared vacant by the Parliament of Albania on July 22, after the end of Olsi Çok's mandate.

In the process opened by the Parliament of Albania, two candidates, Pajtim Melani and Ardit Banja, officially applied. However, in September, candidate Ardit Banja withdrew from running for the vacant post.

On October 8, the Parliamentary Committee on Economy examined and approved Pajtim Melani as the only candidate for this position, proposing him for voting in the plenary session. However, Melani's candidacy was defeated in the vote.

Pajtim Melani held the position of Chairman of the Board of the Financial Supervision Authority between 2015 and 2019, while in 2020 he also ran for the post of General Executive Director.

Based on the law on the AMF, the main criteria announced by the Assembly for candidates are: to be Albanian citizens; have completed the full cycle of university studies in economics, law or related to actuarial science; have professional experience of at least 7 years, of which, at least, five years in finance-accounting, administration of commercial companies, legal consulting of commercial companies, drafting of legislation, actuarial science, social security and pensions, etc.

The deadline for submitting candidacies is December 4, 2024.

According to the law "On the Financial Supervision Authority", the Chairman of the Board is appointed by the Assembly, with the proposal of the Parliamentary Committee for Economy and Finance, after a selection procedure. The term of each member of the Board, including the chairman, is 5 years and they can be re-elected for a second term after the end of their term.

The Chairman of the AMF Board is a non-executive and non-full-time member.

According to the law, the Chairman of the Board has the authority to call and lead the meetings of the Board, to present the agenda, to order the establishment of control committees, the object of work, as well as the deadlines for examining the case, to propose to the Board the establishment of committees advisory, with the aim of drafting policies for the smooth running of the Authority's work, as well as other powers, agreed upon by the Board's own decision-making.

The chairman and the other two members who do not perform executive functions in the Authority can also function as a control committee, in cases where the examination of a specific issue is required, related to deficiencies or violations observed during the activity of the Authority and its structures. / Monitor magazine