Credit Registry

The Bank of Albania maintains and manages the Credit Registry for the purpose of the centralised treatment and dissemination of the information it contains.

Data reporters are responsible for the accuracy and completeness of the information reported in this system.

To have a borrowers report from the Credit Registry, you have to submit a request at the Bank of Albania, as well as complete the necessary documentation to obtain the Official Borrower’s Report.

The documentation may be submitted at the Bank of Albania, at its head office in Tirana or convenient, the branches of the Bank of Albania in the districts of: Shkodra, Elbasan, Gjirokastra; Korça and Lushnje.

If you have claims on the data reflected in the Official Borrower’s Report, you should go to the offices of the Bank or its branches, fill the relevant application form. The Authorised Employee then will immediately contact the Data Reporter, to verify the data claimed to be inaccurate and/or incomplete.

If the verification shows that the data/information reported is inaccurate and/or incomplete, the Data Reporter corrects them and makes the necessary updates.

If the verification shows that the data have been reported accurately, then the information in the Official Borrower’s Report does not change

In the Credit Registry are reported data on the identity of the borrowers, people related to them (regarding the loan) and data on their exposure in the banking and financial system.

The exposure categories reported in this system are:

Loans

Credit cards

Overdrafts

Letter of credit - Financed with the funds of the Data reporter

Letter of guarantee - Financed with the funds of the Data reporter

Leases

In the Credit Registry are also reported data regarding proprieties (movable/immovable) pledged as collateral.

The Data reporter reports within the next working day:

any new loan, repaid loan and written off loan; as well as

any Letter of credit or Letter of guarantee approved and financed.

The Data Reporters report in the Credit Registry, within the first 15 (fifteen) working days of the next month, an update of the borrower’s data, as well as the condition of the portfolio of loans along the relevant classifications.

The information and data in the Credit Registry stay there during the entire duration of the loan, as well as for 5 other years from the date when the loan is reported as “repaid loan - status 5” or “written off balance sheet - status 6”.

Negative information and data are deleted from the Credit Registry after the end of the abovementioned deadline.

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