On December 6, 2022, the Association of Banks in Bulgaria (ABB) gathered prominent representatives of the financial sector on the occasion of Banker’s Day. The official event began with a conference, which was opened by Mrs. Diana Miteva – Chair of the ABB Board of Directors.

The first panel of the conference – moderated by Mrs. Miteva, with participants – Radoslav Milenkov, Deputy Governor of the Bulgarian National Bank, Boyko Atanasov, Chair of the Financial Supervision Commission, Lyudmila Petkova, Deputy Minister of Finance, was dedicated to the new realities – macroeconomic factors and regulatory environment.

The Chair of FSC congratulated the banking community on the occasion, sharing his belief that the banking and non-banking sectors are actually 2 sides of the same coin in the equation of the new economic reality.

“Regulators must place emphasis on those regulations that enable businesses to make informed and ethical decisions in a changing environment. We must create new principles that are relevant in the new reality. The understanding is that the regulators are the anchor of the sailing ship is incorrect, we are the compass that protects it from hitting underwater rocks, we are partners of businesses and investors. My vision for FSC is not one of hibernation, but rather a proactive strategic position in which to look for challenges, both at the macroeconomic level and at the operational business level. I believe that regardless of the new economic reality and geopolitical situation, today we all declare our willingness to work together for the stability and future of the Bulgarian economy, upholding the global digitalization, the European Green Deal and the upcoming entry into the euro area- trends that provoke us to be united in order to be sustainable, on the one hand, and on the other – to boldly face any change,” he stated.

According to him, the biggest challenge is undoubtedly the introduction of the euro, on which the future of the Bulgarian economy and life in the country depends. Leading among other challenges are financial innovations, which can position the capital market at a new level, but also must be carefully introduced. The Chair of FSC also shared that “we ourselves are actively working for the digitalization of the Financial Supervision Commission – reducing the administrative activity for the supervised persons, so that Bulgaria is a place where it is easy to do business”. He announced the launch of a mobile application of the FSC within days, for the convenience of users and supervised persons.

After the adoption of the new regulations, the Financial Supervision Commission will have the important task to create regulatory certainty and increased operational resilience of digital technologies in the financial sector by encouraging the development of innovation, but also by continuing to maintain a secure environment for optimal, but above all secure user experience.

The second panel was dedicated to “Looking ahead – banks and their clients” with the participation of Atanas Pekanov, Acting Deputy Prime Minister for the Management of European Funds, Tsvetanka Mincheva, Deputy Chair of the Board of Directors of ABB and Miroslav Vichev, CEO of Borika AD.

The conference was followed by a celebratory cocktail on the occasion of Banker’s Day.