All represented political parties send an MP to sit on the supervisory board (Nõukogu) of major state and public organizations like the central bank.

Allas and also Jaak Valge, EKRE's representative, are due to step down at the end of their Bank of Estonia terms, next month.

EKRE is to nominate former environment minister Rene Kokk as its new Bank of Estonia supervisory board member; SDE on Wednesday made its announcement on Karuse, who was one of several former Center Party MPs who defected earlier this year.

Both Valge and Allas told ERR that their departures represent routine rotation, and that there is no other reason behind their stepping down from the supervisory board.

The remaining MPs sitting on the Bank of Estonia's supervisory board are: Aivar Kokk (Isamaa), Andres Sutt (Reform), Igor Taro (Eesti 200), and Lauri Laats (Center).

Additionally, industry experts Ivi Proos, Krista Jaakson, Karin Jõeveer, and Toomas Tamsar sit on the board as politically independent members.

Both the MPs and independent experts have to pass a Riigikogu vote before being appointed.

The supervisory board chair is Urmas Varblane.

The position is a remunerated one: In 2023, Varblane was paid a total of €28,613, Valge received €23,939, and Allas, €13,422 – these sums are in line with the Salaries of Higher State Servants Act.

The supervisory board is required to convene a minimum of eight times per year.

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