site.btaPresident Decrees Appointment of Lyubomir Karimanski as BNB Governing Council Member

President Rumen Radev has issued a decree on the appointment of Lyubomir Karimanski as member of the Bulgarian National Bank's (BNB) Governing Council as of December 2. The decree was published in Tuesday's issue of the State Gazette; it is to be implemented by the BNB Governor.

Karimanski will replace Lyudmila Elkova, whose six-year term in office at BNB Governing Council member expires on December 2, 2024, according to information available on the central bank's website.

Karimanski was nominated for BNB Governor by the TISP parliamentary group in 2022. Back then, TISP said he has a Master's degree from International Business School in London as well as a Master's degree in finance from the University of National and World Economy in Sofia. Karimanski has 20 years of experience in financial sector development and successfully applied leader's experience. In addition to being an advisor on digital banking and innovative payments to the Luxembourg Bankers' Association, Karimanski is a coordinator of the Payments, Digital, Fintech and Regtech Working Group, European Banking Authority in Paris.

The BNB Governing Council has seven members: a governor, three deputy governors heading the Issue, Banking and Bank Supervision departments; and three other members. Eligibility criteria for Council members include high moral qualities and distinguished professionalism in the field of economics, finance, and banking. The governor and deputy governors are elected by the National Assembly, and the other three Council members are appointed by the President, all for a term of six years.