PRESS RELEASE
Decisions by the Supervisory Council, 7 December 2022

On 7 December 2022, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Approve amendments to the Regulation "On licensing and activity of non-bank financial institutions"

These amendments provide clearer restrictions to micro-credit financial institutions regarding their right to exercise other activities, which are different from lending and advisory services on lending activity.  

• Approve amendments to the Regulation "On licensing and activity of savings and loan associations and their Unions”

These amendments aim at implementing the recommendations from the Committee of Experts of CoE (MONEYVAL) - in the framework of the fifth evaluation round for Albania, regarding the request on the honesty of the founders of savings and loan associations, as well as to payments and/or capital increase.

The Supervisory Council was also informed on daily functional and operational activities of the Bank of Albania.