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The government officially proposes Adela Xhemali to take over the leadership of the AFSA.

2025-11-06 07:18:15, Ekonomi CNA

The government officially proposes Adela Xhemali to take over the leadership of

The Council of Ministers has officially proposed to the Assembly of Albania the candidacy of Adela Xhemali, for the position of board member of the Financial Supervisory Authority, who will hold the function of Chief Executive Officer.

Although the decision of the Council of Ministers was taken on September 25, it was forwarded to the Albanian Parliament only at the beginning of this month.

For a period of five years, until May of this year, Adela Xhemali held the position of Deputy Minister of Finance. Previously, she held leadership positions in the Ministry of Finance and the Prime Minister's Office.

Prior to her engagement in the public sector, Adela Xhemali had extensive experience in the banking sector, including the position of Director of Finance at the American Bank of Albania and later at Intesa Sanpaolo Bank Albania.

Adela Xhemali will replace Mimoza Kaçi in this position, who led the Financial Supervisory Authority since April 2024, completing the mandate of the former Chief Executive Officer, Ervin Mete.

For several months, the AFSA was in a situation where the mandates of both executive directors were considered to have expired. According to the AFSA organic law, in the event of the premature dismissal of any of the Board members, the other member is appointed by the same procedure as the member being dismissed, for the period until the end of the mandate of the member being dismissed.

Based on this article, the AFSA decided to terminate the mandate of the Deputy Executive Director, Merita Gurabardhi, who in 2024 had replaced the former Deputy Executive Director, Mimoza Kaçi, whose mandate ended this year.

But Gurabaradhi appealed this decision to the Albanian Parliament. After an evaluation of the mandates, the Committee on Economy, Employment and Finance appears to have upheld her claim.

In the draft resolution prepared for the Albanian Parliament by this Commission, it is requested that the AFSA Board take the necessary legal measures to establish the invalidity of the actions carried out in relation to the mandate of one of its members (Merita Gurabardhi), respecting without any obstacle, until the end, the mandate determined by the Parliament according to its decision no. 76/2024.

The AFSA faced harsh criticism from MPs during this institution's annual reporting to the Parliamentary Committee on Economy, Employment and Finance.

The tasks set by the Parliamentary Committee on Economy, Employment and Finance in the prepared draft resolution require that, in close cooperation with the Competition Authority, it investigates as a priority the market for compulsory insurance products TPL and Green Card, with the aim of verifying practices that have influenced the restriction of competition and the fixing of prices for these products. The investigation should include an analysis of the manner of information exchange between market operators, as well as an assessment of its impact on the commercial and economic behavior of insurance companies.

The draft resolution also requires the AFSA to propose concrete measures to restore free competition in this market and to strengthen transparency and consumer protection, in accordance with the legislation in force.

It is also requested that the AFSA return for discussion, review and decision-making Regulation No. 156/2024 "On the determination of risk factors included in the calculation of the premium for compulsory insurance products in the transport sector", fully aligning it with the Italian motor insurance model, which represents an advanced European practice in terms of transparency and proportional risk punishment./ Monitor Magazine