The Council of Ministers of Andorra on Wednesday approved a bill that eliminates the previous requirement of the government of Andorra in relation to the nationality of Directors of the National Institute of Finance (INAF). It was stated by the minister of finances of Andorra Jordi Cinca. Under the prior requirements, the directors of the INAF must have the nationality of Andorra.
According to the Minister, the requirement is preserved only in respect of the Chairman of the Board of Directors of INAF.
The decision of the Council of Ministers, in particular, was explained by the fact that INAF tasks became more complicated and required more experience and knowledge of the members of the Board of Directors of INAF. The finance minister noted that the international expansion of the Andorran financial system, the development of the financial market of the Principality at an international level illustrated the growing need for qualified professionals. “It is important that the members of the Board of Directors of the INAF had international experience, so we decided to remove existing rules”, – he concluded.