Finance Latvia Association head quits to take up World Bank job

Sanda Liepiņa the Chief Executive Officer and Chairwoman of the Management Board of the Finance Latvia Association (FLA), will leave her post on June 28 to start working at the World Bank Group in Washington DC, USA, FLA said in a statement June 18.

"I am proud of our achievements. Since the beginning of 2017, together with our partners in the public, private, NGO and academic sectors a lot has been accomplished in sustainable development of the finance and related sectors. We have been setting an example across Europe with our commitment in transforming our approach to achieve the highest AML/CFT compliance standards, promoting the usage of digital solutions in finance, our outlook on the development of the capital markets and responsible lending,” said Liepiņa.

"Sanda Liepiņa played a significant role in transforming the Association into its current shape, considering her experience in coordinating and implementing policy issues," said chairman of the FLA board Guntis Beļavskis.

Liepiņa has maintained a good reputation, handling reforms of the association at a particularly difficult time with several Latvian banks embroiled in scandals of one form or another and placing a lot of emphasis on improvements in the sphere of anti money laundering efforts. One of the former members of FLA, ABLV bank has gone into liquidation directly as a result of U.S. allegations of money laundering.

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