The majority in the Assembly has selected the three names to be proposed as members of the Supervisory Council of the Bank of Albania: Selami Xhepa, Holta Zaçaj and Matilda Shehu. The decision comes at a sensitive political moment and raises discussions on how the rotation of senior institutional figures is increasingly becoming a politically managed process.
The name that has attracted the most attention is that of Holta Zaçaj, who just a few months ago completed her term as member and president of the Constitutional Court of Albania. Her transition to the country's most important financial supervisory body is a move that bears the seal of the executive, in a scheme where important institutional figures are settled in new positions as soon as their mandates end.
The debate over her name has also been fueled by the way her term on the Constitutional Court ended. Zaçaj insisted on remaining in office even after the end of her mandate, arguing for the interpretation of legal deadlines. Staying beyond the limit of her mandate caused an institutional deadlock in the Constitutional Court and led to clashes over its normal functioning, to the point that an interpretation was also requested from the Venice Commission. This episode remains one of the most controversial moments of the recent period for the institution that should guarantee the final interpretation of the Constitution.
In her presentation before the Economy Committee, Zaçaj stressed the need to strengthen the role of the Supervisory Council as a guarantor of the legal mission of the Bank of Albania, underlining the balance between institutional independence and transparency of accountability. She also emphasized the protection of the financial consumer and the fair functioning of the market through impartial supervision.
Meanwhile, the other candidate, Selami Xhepa, an economist with a long academic and institutional career, highlighted the challenges associated with new forms of money and the need for a more dynamic regulatory framework. He also argued for the importance of the central bank's role in protecting consumers against financial institutions.
The third candidate, Matilda Shehu, a lecturer at the Faculty of Economics, focused on the creation of the financial ombudsman institution and the strengthening of ESG standards in the Albanian banking system.
The process comes after the seven-year terms of the six members of the Supervisory Council ended in December. The Assembly opened the replacement procedure in November 2025, with 20 candidates applying and 18 of them appearing in the hearings.
However, beyond the professional profiles of the candidates, the political debate has focused on the symbolism of the selected names. The appointment of a former president of the Constitutional Court to a key financial institution raises questions about the boundaries between meritocracy and political influence in high-level appointments. The main criticism is related to the perception that independent institutions are increasingly functioning as intermediate stations in a system controlled by the parliamentary majority. Is this a reward that Edi Rama is giving in exchange for favors to Holta Zaçaj?
In this context, the next question that arises is broader than a specific name: is a new institutional culture being built, where the careers of senior figures are determined by the political cycle, or do we simply have a normal rotation within the country's administrative elite?
For now, the parliamentary majority has given the message that the elections were made on the basis of professional profile. But the evil mouths say that the process can now be considered closed because the orientation is clear. The votes will go to Holta Zaçaj.
