Sanita Bajāre has been elected as the new Head of the Finance Latvia Association following the approval of the Association’s Council.

Sanita Bajare is taking up her position as the Head of the Association on 25 November this year. A total of 20 candidates applied for, or were approached about, the position of Head of the Finance Latvia Association. The recruitment process was carried out by the recruitment company Amrop.

“The majority of the members of the Council of the Finance Latvia Association voted for Sanita Bajāre’s nomination, supporting Sanita Bajāre for an important position in this sector. The Finance Latvia Association is a significant negotiating partner for the government, the parliament, business organisations and other organisations, and as an association it has always been important for us to be a valued and constructive partner in negotiations; therefore, with Sanita Bajāre now being a part of the Association, we will continue the ongoing dialogue to strengthen both the role of the financial sector at the national level and to help enhance the joint fight of the financial sector and the state against money laundering attempts.”

Ieva Tetere, Chairwoman of the Council of the Finance Latvia Association.

Sanita Bajāre was Manager of the Euro Project at the Ministry of Finance from 2005 to 2011 and State Secretary at the Ministry from 2011 to 2014. From 2012 to 2014, Sanita Bajāre also worked on the Board of the European Investment Bank, and from 2014 to 2016, she held a leading position at the World Bank. Between 2016 and 2018, Sanita Bajāre was responsible for corporate banking services at Citadele Bank.

“I believe that my experience and knowledge will be of substantial importance when assisting the members of the Association in the introduction of sustainable operating models and active implementation of technology development projects, as well as in taking forward the updating of the necessary regulatory framework in the areas of sustainable financing and investment. My experience in coordinating Latvia’s Economic Stabilisation and Growth Revival Programme in partnership with international lenders and managing the Euro Changeover Project gives me basis for confidence that any, even very ambitious, project can be implemented within the set time frame, budget and quality, provided that the parties involved work together and have a common understanding of the importance of achieving the goal. We are currently facing the challenge in regard to Moneyval assessment, and I will do my utmost so that we can provide assurance to our international partners of Latvia’s goal to make the necessary changes. The years I have lived outside Latvia allow me to conclude that the financial sector in Latvia is already ahead of many developed countries in terms of the range, quality and speed of provision of services.”

Sanita Bajāre, Head of the Finance Latvia Association.

The top priorities of Sanita Bajāre as Head of the Finance Latvia Association will be pursuing, together with the Association’s team, the plan for 2020 that mainly focuses on further work on sustainable lending and combatting financial crime through restriction of money laundering in cooperation with the Financial Intelligence Unit of Latvia, the State Revenue Service and the Financial and Capital Market Commission, as well as promotion of digital skills and digital security together with members of the Association and other partners.

The Finance Latvia Association is a non-governmental organisation representing the Latvian financial sector at the national and international levels. It comprises not only Latvian-registered banks and branches of foreign banks but also financial technology start-ups, experienced technology companies and companies from related industries. Currently, the Finance Latvia Association brings together 33 financial sector companies and operates in accordance with the Articles of Association approved by the General Meeting.

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