Minister of Finance Appoints a New Member of the Board of Directors of the Financial Market Guarantee System

Prague, 2 August 2021 – Minister of Finance Alena Schillerová has appointed a new member of the Board of Directors of the Financial Market Guarantee System. This is Ms. Monika Zahálková, who also serves as the executive director of the Czech Banking Association.

Ms. Monika Zahálková, who is also the executive director of the Czech Banking Association, will replace Mr. Vladimír Staňura on the five-member Board of Directors of the Financial Market Guarantee System. Her term of office will last until 2024.

The Board of Directors of the Guarantee System has five members and includes two employees of the Czech National Bank, two employees of the Ministry of Finance of the Czech Republic, and one member appointed on a proposal from the Czech Banking Association. Members are appointed by the Minister of Finance for a term of five years and may be reappointed. The most recent list of the Board of Directors members is available here.

“The Board of Directors is the supreme body of the Guarantee System. Besides supervising the operations of the Guarantee System, one of the tasks of the Board of Directors is to appoint a three-member Management Board, which is composed of employees of the Guarantee System,” explains Ms. Renáta Kadlecová, managing director of the Guarantee System.

The total financial reserves under the management of the Financial Market Guarantee System amount to CZK 58.1 billion. Of this amount, the Deposit Insurance Fund currently has CZK 37.1 billion under management and the Crisis Resolution Fund CZK 21.0 billion.

Ms. Monika Zahálková is a graduate of the Prague University of Economics and Business. She was the executive director and member of the Steering Committee of the Czech Institute of Directors from 2001, and also served as the managing director of CG Institut from 2014. Between 2018 and 2019, she was a member of the Board of Directors of the media company Economia. She has co-authored several professional publications on corporate governance and educational programmes for members of elected bodies.

Mr. Vladimír Staňura is a graduate of the Prague University of Economics and Business and obtained an MBA degree from the Rotterdam School of Management. Having served in a number of roles in both domestic and international banking, he became a member of the Board of Directors of ČSOB in 1991, where he stayed until his appointment as chairman of the Board of Directors of ČMSS in 2003, where he would work for nearly 14 years. He was also a member of the presidium of the Czech Banking Association and the chief advisor to the CBA.

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