Finance Minister Explains Away His Sister’s Appointment to Regulatory Body

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ZAGREB, December 6, 2018 – Finance Minister Zdravko Marić said on Thursday there was no favouritism in the appointment of his sister Ljiljana Orlovac as CEO in the Croatian Financial Services Supervisory Agency (HANFA), saying he was ready to step down if there was proof that he did anything wrong.

Speaking after a government session, held in the central city of Karlovac, Marić commented on the information that his sister was appointed director of the HANFA insurance supervision department which investigates whether or not there was any insider trading at the time the Agrokor bill was being drafted.

Marić said his sister had all the necessary qualifications and experience for the position she was appointed to, telling reporters to seek any further information regarding this case from HANFA.

Marić says that his sister was a CEO at the Adriatic Osiguranje insurance company as early as in 1995 and that she arrived in HANFA in 2010 as deputy director. With over 20 years of experience in the insurance business, she was appointed CEO and not a member of the Management Board, which makes all decisions, Marić said.

The Croatian Financial Services Supervisory Agency (HANFA) dismissed any insinuation about conflict of interest regarding the appointment of Ljiljana Orlovac, stressing that the main appointment criteria were competence and expertise.

HANFA is an independent institution that answers to the national parliament and its operations, including the appointment of staff, are professional and independent, agency officials said, reiterating that the main appointment criteria were competence and expertise.

Ljiljana Orlovac has been an employee of HANFA for the past nine years during which she held various offices and performed many duties, HANFA said.

For more on Minister Marić, click here.


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