Tirana, 26 January 2022 (TDI): The Bank of Albania has submitted a proposal to the Parliament proposing the re-election of Gent Sejko as a member of the council.

This will be Gent Sejko’s second term as Governor for the Bank of Albania. He was voted as Governor unanimously by the supervisory council during a meeting in late December 2021. The law specifies that the Governor is elected by the Assembly on the proposal of the president of the country.

The Assembly will vote on the supervisory council proposal next month. Early last year most of the assembly had voted to dismiss the President but this decision was never implemented.

In the country, as it currently stands there are massive disagreements between the President and the Parliament. Gent Sejko took the role of the governor in 2015 after the previous candidate was terminated after his arrest.

At the end of last year, the Committee on Economy also held a number of hearings for candidates who had applied for two other vacancies within the bank. The process to fill out these positions has begun but it is very likely that process priority will be given to the vacant position put forth by the supervisory council as Gent Sejko also holds the position of Governor.

Bank of Albania

The Bank of Albania is the Central Bank of Albania and is headquartered in Tirana. It was founded in 1925. It has branches located all over the country. The bank works towards price stability and promotes and supports the development of foreign exchange regimes. The bank also acts as the manager of Albania’s currency.

Supervisory Council

The Bank of Albania’s Supervisory Council consists of 9 members. These members are elected by the Parliament and they serve a 7-year term and can be reelected. three of these nine members are suggested by the Council of Ministers, one by the Supervisory Council, and five by the Assembly.