Slovenian government to change bad bank law for more transparency

Slovenian government to change bad bank law for more transparency

 

Review Hari Stefanatos

The slovenian government has brought forward a proposal for the change of the law about Bank Asset Management Company (BAMC) or bad bank aiming for more transparency in sigh of a growing number of accusations for malpractices.

Among the changes that are suggested and that will apply to both internal and external staff  are transparency when it comes to staffing, focusing on the need to systemically define all posts at BAMC and to secure independence, and the use of objective criteria and transparency in all decisions leading to appointments.

All decisions will be made with the BAMC’s interests in mind.

Other changes target the bank’s integrity and prevention of corruption with the appointment by the management of an integrity officer who will draw up measures, raise awareness about integrity and corruption risks at the bad bank, and cooperate with the authorities and all employees will be obligated to inform the officer of potential illegal or unethical situations, including any contacts that are legally considered as lobbying.

The government’s actions in regard to this new law have been stimulated by the allegations from a number of sources, including the Corruption Prevention Commission, for lack of transparency in its operations and conflict of interest.

(Source Sloveniatimes)