
Supervision of unbanked creditors would purposefully be transferred to the Bank of Latvia, said on Monday in an interview with Latvian radio the only candidate for the presidency of the Bank of Latvia, the former president of the Bank of Latvia Martins Kazaks.He noted that at today the supervision of unbanked creditors is carried out by the Center for Consumer Protection (PTAC), but it could be discussed
about concentrating supervision of all financial sector in the Bank of Latvia. “I think that it is reasonable to concentrate all supervision in the
Bank of Latvia. “This will increase efficiency and create equal conditions for all participants in the market,” Kazaks said. Talking about the main objectives of the Bank of Latvia for the next five years, Kazaks noted that it is necessary to work over security, that is, that people can make payments even in different crisis situations, so that the financial sector is safe, so that inflation
is low, and also work on accessibility of financial services, so that services are more affordable, modern and widely
availableinregions.The Bank of Latvia, in the opinion of Kazaks, also needs to workon the so that the Latvian economy growsquicklyinthelong-termprospects.