Maiava Atalina Emma Ainuu-Enari has been re-appointed as the Governor of the Central Bank of Samoa for another term of six years as articulated by the Central Bank of Samoa Act.

She was the first woman ever to be appointed as the Governor of the Central Bank of Samoa and when her initial term concluded she had hinted at eyeing a second six-year term in office.

The Governor's position was advertised after Maiava’s contract concluded last year.

Maiava is an economist and a lawyer and holds a Bachelor of Business in Economics, Banking and Finance from the University of Southern Queensland (Australia) coupled with a Master of Science in International Economics, Banking and Finance from the University of Wales (UK), and a Bachelor of Law (LLB), Professional Diploma in Legal Practice (PDLP).

She also holds a Professional Diploma in Legal Drafting (PDLD) from the University of the South Pacific (Fiji and Vanuatu).

Maiava on the other hand was first appointed as Governor in 2011 under the old C.B.S. Act 1984.

Under the old Act, the term for Governor was for three years. However, when the Act was repealed and according to the C.B.S. Act 2015, it provided a provision where the length of the Governor's term was extended to six years.

Under the new amendments to the C.B.S. Act, Maiava's first six-year term expired in August of this year.

Under the Central Bank of Samoa Act 2015, the Governor for the C.B.S. is appointed by the Head of State on the advice of the Cabinet, subject to the advice or proposal of an Independent panel. Section 17 of the Act states that the Cabinet may appoint an independent panel comprising two members of the Audit Committee and an independent member.

The Act also highlights (section 19) that the Governor holds office for six years and is eligible for re-appointment for only one more term of six years and is entitled to remuneration and allowances as determined by the Board at the time of his or her appointment. This means a person who gets appointed as the CBS governor can only serve for 12 years.

It is also highlighted in the Act Section 22(6) that when the term of the Governor is about to expire, any appointment or reappointment of a Governor must be completed within one month before the term expires.

The C.B.S. governor is the C.E.O. of the Central Bank of Samoa, which is primarily a policy organisation that formulates and implements monetary policy directed to the economic objective of achieving and maintaining domestic stability in the general level of prices. As the regulator of the financial system, the Central Bank of Samoa licenses and supervises financial institutions to ensure they follow prudent management practices and strict compliance with obligations designed to detect and deter money laundering and terrorism financing thus promoting the stability of the financial system.