site.btaBNB Board to Decide whether Anti-Corruption Commission Decision is Grounds Andrey Gyurov's Release as Deputy Chair

The Bulgarian National Bank (BNB) Board will meet on July 16 on the matter related to a decision by the Anti-Corruption Commission which deemed BNB Deputy Governor Andery Gyurov incompatible with his position, BNB Governor Dimitar Radev told BTA.

The Bulgarian National Bank Act stipulates that the BNB management should consider this decision in the context of the principles and rules of central banking and assess to what extent this violation, already established by the Anti-Corruption Commission, is grounds for the release of its member, Radev also said.

He pointed out that this does not mean the automatic release of Gyurov from his position, because the decision is subject to judicial review by the Supreme Administrative Court.

The BNB Governor explained that the bank's Board is obliged to initiate proceedings and rule on the case within two weeks, but no later than the first regular meeting of the board, which is on July 16. There are two grounds for early dismissal of a member of the BNB Board - if they doe not meet the requirements necessary for the performance of their duties, or if they are found guilty of a serious violation. The BNB Board cannot dismiss Gyurov from his position, as this can only be done by the electoral body, which is Parliament. In this case, the BNB will only determine whether the presence of incompatibility is grounds for the dismissal.

The court's decision on Gyurov's appeal does not cancel the BNB procedure, Radev added.

He noted that this case will set a precedent for solving similar cases in the future, but that he hopes that there will be none.