Ms. Elisabeta Gjoni, First Deputy Governor of the Bank of Albania addresses the high-level international seminar organised by the Albanian Insurance Deposit Agency

Publication date: 12.12.2014


On 09.12.2014, Ms. Elisabeta Gjoni, First Deputy Governor of the Bank of Albania attended and addressed the high-level seminar on 'Deposit Insurance Funding: Key Questions, Diverse Approaches', organised by the Albanian Deposit Insurance Agency (ADIA), in cooperation with the International Association of Deposit Insurers (IADI).

The main topics of the seminar focused on the adequacy of funds available to deposit insurers and the ways to fufill them, for a timely response to insured depositors. A number of presentations were given by insurers that have established deposit insurance as a discipline of financial security, such as the US Federal Deposit Insurance Corporation (FDIC), Canada Deposit Insurance Corporation (CDIC), and other experienced European insurers from the UK, Poland, Switzerland, etc.

In her address to the seminar, Ms. Gjoni highlighted the role of the ADIA in maintaining the stability of the financial system, as one of the participants in the financial stability network in Albania. She singled out the importance that the Bank of Albania, as a Supervisory Authority, places on inter-institutional cooperation with the ADIA, supporting the Agency in important initiatives to effectively fulfil its mission.

One of the joint initiatives between the Bank of Albania and the Albanian Deposit Insurance Agency that Ms. Gjoni shared with the seminar participants is the inclusion of Savings and Loan Associations in the deposit insurance scheme by 2015. Ms. Gjoni said that this development will contribute to raising the awareness of the employees of both institutions on the respective fields of activity.

The Albanian Deposit Insurance Agency is a public institution established in 2002. The Agency operates pursuant to Law No. 53/2014, dated 22.05.2014 'On deposit insurance' and is mandated to administer the deposit insurance scheme in the Republic of Albania. The main objective of the deposits insurance scheme is the compensation of depositors' deposits.