"Such was the concern of the Government after the new legislation, which has left the Agency without a Commissioner since last June", was characteristically mentioned by the Member of Parliament Andreas Kavkalia today in the Plenary
The immediate appointment of a Financial Commissioner was requested by MPs on the occasion of the vote in the Plenary of the Parliament of the budget of the Unified Body for the Out-of-court Resolution of Financial Disputes for 2024.
The budget was approved unanimously, while the importance of the institution was also highlighted, especially after the passage of legislation to expand the powers of the Commissioner in relation to Non-Performing Loans and foreclosures.
The Agency's budget for 2024 is in deficit and foresees total expenses of €1,154,722 and revenues of €1,004,722, which are reduced by 7.3% compared to the year 2023. This is mainly due to the reduced provision concerning charges for filing a complaint.
The Agency's revenues will mainly come from the fixed annual contribution paid by each financial business to the Agency (€632,106), from individual contributions paid for submitting a complaint, application and denunciation (€24,000), charges imposed on financial businesses in cases where the decision of the FSA regarding submitted complaints goes against them (€140,000), state sponsorship to cover the remuneration and other benefits of the Financial Commissioner and the Assistant Financial Commissioner (€166,229), as well as other income (€35,000) .
The budgeted deficit of €150,000 will be covered by the Agency's cash reserves.
In his statement, AKEL MP Andreas Kavkalias stated that the recent legislation passed for the Agency has created some expectations in society and borrowers. He added that such was the concern of the Government after the new legislation, which has left the Agency without a Commissioner since last June. He also said that they were informed that the proposal to the Council of Ministers has essentially been lost along the way and that the Agency remains without a Commissioner. Some, he noted, have to explain.
DISY MP Savia Orfanidou stated that the appointment of a Financial Commissioner as well as a Commissioner of Mountainous Regions has been a request of DISY since last June. He referred to the critical importance of the Financial Commissioner to implement the legislation passed by Parliament and said that they expect the Government to finally appoint him.
The MP of DIPA – Cooperation, Alekos Tryfonidis, said that the appointment of the Commissioner is very important after the passing of the legislations to expand his powers. He noted that the Agency's new Board of Directors will announce the position to decide and take the recommendation to the Cabinet and stated that he is optimistic that this will be done soon, so as to give impetus to the institution. He also said that the Commissioner's Office should go on a publicity campaign so that citizens are aware of the new powers.
DISY MP Onufrios Koullas said that it is not an excuse that the legislation was going to be changed and that is why they did not appoint a Commissioner. Instead, he said, the Financial Commissioner would help design the legislation. He spoke of the Government's displeasure in the matter, as well as in the appointment of the Commissioner of Mountainous Areas.