PRESS RELEASE
Governor Fullani interview with MAPO newspaper, 14 August 2014

1 - Mr. Fullani, three weeks from the publication of the news for the misappropriation of 7 million US dollars from the treasury at the Bank of Albania, you have not yet spoken publicly to explain the circumstances, your responsibilities and consequences of this event. Why this silence, while the theft at the Bank of Albania is the main topic of discussion for the public opinion?
 
I would like to thank you for this opportunity. First, let me specify: The event was brought out and denounced by the Bank of Albania, and I personally took to a press conference to inform the public about it and the emergency measures that were taken since day one. Supervisory Council members have also made statements in the media. Not to mention the press releases. One should take into account that the position of the Governor is such that he speaks through statements and press releases. Second, I would like to underline that the case is subject to investigations and is a very delicate issue. A statement that may satisfy the curiosity of the public may also severely harm investigations and the legal solution of the case. I would rather not hinder investigations, even if that means personal consequences, with many untrue allegations circulating around. After contacts with the Prosecutor's Office, we are committed to providing all the premises for a swift, professional, reliable, comprehensive and transparent investigation. This is something that serves the public better than the media show of a Governor. If you think differently, I understand, but to me, as Governor, the investigation, its secrecy and finding the responsibilities is more important than replying to accusations thrown at me. 

2- A part of the public opinion, even politicians, demands your resignation as an act to assume your responsibilities for the incurred financial damage. How would you respond, have you ever thought, these days, about resigning and what has kept you from doing it?
 
The responsibilities and duties of the Governor are stipulated in the law and may be easily found. The Governor issues orders and instructions, which, in this case, have been well defined. Failure to implement them or negligence by the responsible persons is a legal breach and, as such, punishable by law. I see the administrative responsibility of the Governor mainly with regard to guaranteeing the stability and independence of the Bank. This is being testified by the entire political spectrum in the official statements, addressing this delicate issue. Hence, the interest of the Bank prevails above all. In this sense, on the contrary, as I continue to be the Governor of the Bank, this is an indicator of responsibility in relation to the role that this post has for guaranteeing the banking system and ensuring the independence of the central bank. 

3- Investigations by the Prosecutor's Office have revealed, until now, that a number of factors have helped Ardian Bitraj in his perpetration; periodic controls have not been made in the cash stock and cash operation facilities, security protocols concerning the access keys to the vault have not been implemented, and the camera monitor has not given any hint about what happened. In your analysis, why did all these instruments fail to function?  

As I stated above, the case is under investigation. Except for the information we have already made public, I may not give additional details, but I assure you that the rumours that circulate each day have inaccuracies and untrue information. The analysis have shown that procedural rules set out in acts of the Supervisory Council and those approved by the Administrators have not been implemented. We are also responsibly conducting a comprehensive review of all our procedures related to the administration and control of monetary values. I would like to emphasise that the Bank of Albania, with the assistance of the international partners, has taken, and is taking all the measures, which guarantee that such events will not happen in the future. Similar events have also happened in other major central banks such as in England, Ireland or Australia.

4- Has the internal and external audit of the Bank failed? Do they bear legal responsibilities in this case?  

Auditing has been performed every year conform to the approved plans. I am confident that the investigation, which is underway, will identify responsibilities according to the structures involved in this process. Auditing is only one element in the entire operational and control mechanism at the Bank of Albania. I would like to clarify that the internal auditor (Inspector General - Head of the Audit Department) of the Bank of Albania is appointed by the Assembly for a five-year term. The external auditor is selected through a procurement procedure that is open to renowned international auditors. The external auditor, we must say, of the Bank of Albania has been carried out by well-known international auditing companies for at least the past 15 years. 

5- Have you ever had any signals on the profile of the author of this theft, a person who is totally unreliable, and, while addicted to gambling, still works for one of the most important sectors of the Bank of Albania? If not, who is to be held responsible for this negligence?  

This person has been working for the banking system since 1993. He started to work for the Bank of Albania in 2005. Nothing in his personal employment file points to or hints about his behaviour or potential violation of principles of the code of conduct for Bank of Albania employees. Because of the specific position, he has been certified by the respective bodies specialised for the highest level of security, since 2011. We are, however, reviewing all "personality check" procedures for all employees, especially those in certain positions. 

6- The Governor's position includes many executive powers. Appointments are one of them. Given that 9 employees of the Bank are arrested, do you feel responsible for their selection or appointment?  

Except for Bitraj, all the other employees under investigation have worked for the Bank of Albania for a long time, about 10 - 15 years. Eight persons have started working for the Bank before I became Governor in 2004. 

7- Politicians are divided over this issue, some demanding the resignation of the Supervisory Council and others of executive managers, such as the Governor and the Deputy Governor. Which are in fact your responsibilities? Which are the responsibilities of the Supervisory Council in this situation? In other words, who was responsible for the timely detection of this theft?
 
I do not see politicians position as divided. As I stated above, their stance has been very clear in the official statements, conveying a mature message. Anyone has the right to individual statements. On the other hand, the central bank is an independent, responsible and accountable institution that acknowledges and respects only official positions. Myself, as the Governor, the Supervisory Council and the whole staff of the Bank are totally commited to guaranteeing a normal functioning of our institution, in full compliance with the laws of this country. 

8- There have been allegations in the media for a meeting of the Supervisory Council when Ermelinda Meksi requested that you resign. What is the truth about these allegations and do you have the trust and confidence of the Supervisory Council? 
 
I told you earlier, many untrue things have been said in the media these days. This is one of them. There is nothing true in these allegations. 

9- Mr. Fullani, you are known as a friend of politicians and this has caused a higher dose of reaction. What are the relations like with Rama, Berisha and Meta?  

In your questions you are asking me about the relations with the incumbent Prime Minister, former Prime Minister and Speaker of the Assembly. The mandate of the Governor is a specific one, and goes beyond that of governments. The objectives of the central bank - maintaining macroeconomic and financial stability - reach beyond short-term political programmes of the governments. A central bank that is not independent may not accomplish its mission. This does not mean that the central bank has to necessarily "confront" the government and, even when that happens, it does not necessarily has to happen publicly, although often this is not noticed by the public. The key to success for the central bank is in the mutual respect and understanding and, most importantly, in harmonising policies. I have had the pleasure of working with 3 presidents, 3 prime ministers, and 3 speakers of parliament. My institutional duties demand that I establish work relations based on reciprocity and trust, without affecting the institutional independence which lies at the foundation of our work for successfully achieving our objectives. 

10- Media coverage of the theft at the bank became more intensive as pictures from your son's birthday and his collection of expensive watches and cars were published. Which is your comment on that? What would be your response to the judgement of the public opinion, casting doubts on the sources of the wealth of your family? 
 
I insist once again. These days and weeks many untrue allegations have circulated. They are addressed at me, my family, my children. I preferred not to respond and not enter into such debates, because I deemed that the emergency at the Bank after the serious event prevails over my personal situation. Concerning slander and libel, I would like to assure you that I will deal with it in order to uphold my personal and my family's dignity. My income and assets, as well as for my family, have been subject to self-declaration and control by the relevant institutions for more than a decade. The assets and properties of my family may be easily verified and substantiated. In some cases, however, speculations sound more interesting than the truth. I have been working for about 40 years and in these four decades I have held various key positions both in the public and private sectors, which have often put me at the focus of media attention. My career does not begin, and does not end, at the Bank of Albania. I would like to assure you that I will not allow any speculator to mar my reputation. 

11- Mr. Fullani, what are the consequences of this scandal on the Bank of Albania and the banking system in Albania? What are the guarantees that the money of the Albanian citizens are in safe hands? 
 
The event, albeit a serious one, has not affected any of the banking system indicators. Monetary operations in the cash units are within normal parameters. The banking system is operating at optimum parameters, providing all the services to the Albanian economy. The public has been wise enough to distinguish between an isolated event and the entire system.