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MNB management rejects supervisory board's criticism

Zsigmond Járai, chairman of the supervisory board of the National Bank of Hungary (MNB) "delegated by the governing parties continues to express unjustified accusations against the bank", the MNB said in a statement sent to MTI on Monday.

The statement states that the supervisory board did not adopt a resolution condemning the bank and acknowledged the information provided by the management of the MNB on the matters in question. Járai’s statement released on Monday cannot therefore be anything else but his private view, and it severely violates the ethical norms that are binding to him as the chairman of the supervisory board.

"The management and staff of the National Bank of Hungary cannot be threatened or intimidated by supervisory board investigations or public criticism," the statement says.

The statement quotes Járai, who told MTI on Monday that "the supervisory board has found a number of irregularities, suspected abuse of power and conflicts of interest in the management of the central bank and contracts it signed".

The central bank's statement notes that the minutes of the supervisory meeting sent to the MNB does not contain the findings listed in the statement.

The central bank's statement stresses that it would be important both for the country and the National Bank of Hungary if the management and staff of the MNB could perform their work in accordance with the central bank act and free from any political influence.

The statement says that, in connection with the activity of Járai, the suspicion arises that he wishes to use the MNB supervisory board for political purposes, and this is contrary to the statutory regulations regulating the work of the supervisory board and the interests of the country alike.