Riigikogu appoint new Bank of Estonia supervisory board ({{contentCtrl.commentsTotal}})

Bank of Estonia coat of arms.
Bank of Estonia coat of arms. Source: Siim Lõvi /ERR

On Monday, the Riigikogu approved a resolution on the appointment of members of the Supervisory Board of the Bank of Estonia, with 91 deputies voting in favor of the resolution.

Jaanus Karilaid (Center Party), Ivari Padar (SDE), Sven Sester (Fatherland), Andres Sutt (Reform Party) and Jaak Valge (EKRE) were appointed members of the Supervisory Board of the Bank of Estonia on the proposal of the political groups.

The Chairman of the Supervisory Board of the Bank of Estonia proposed that Kaie Kerem, Enn Listra, Rein Minka and Urmas Varblas, experts in the field, be appointed members of the Supervisory Board.

According to the Bank of Estonia Act, members of the supervisory board must be Estonian citizens who have higher education and the knowledge and experience necessary for participation in the work of the supervisory board and for whom there are no grounds provided by law. 

This means that he or she has not been convicted of a criminal offense and has not been the subject of a bankruptcy order, a ban on doing business or a disqualification from operating under the law.

According to the the Bank of Estonia Act, a member of the supervisory board may not work for any management company, investment fund, investment firm, credit institution, insurer or other entity subject to financial supervision or belong to their management bodies.

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Editor: Helen Wright

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