REGULATORY BODIES
The regulatory entities of the securities industry in the Republic of Albania are the Bank of Albania and the Financial Supervisory Authority. The Bank of Albania is the institution that licenses, monitors and supervises second-tier banks, as well as a certain group of non-bank financial institutions. The Financial Supervisory Authority is a public legal institution, independent, reporting to the Assembly of Albania, whose mission is the supervision and regulation of the non-bank financial sector in Albania..
Financial Supervisory Authority
The Financial Supervisory Authority is the regulatory entity of the securities industry in the Republic of Albania. AFSA was established based on Law no. 9572, dated 03.07.2006 "On the Financial Supervisory Authority", as a public legal institution, independent, reporting to the Assembly of Albania. The mission of the Financial Supervisory Authority is the supervision and regulation of the non-bank financial sector in Albania. This mission is guided by the principles and norms of independence, accountability, transparency and integrity. The regulatory role and supervisory regime of AFSA aim, on one hand, at the stability and development of the insurance, capital and private pension markets, and on the other hand, at consumer protection. .
Bank of Albania
The Bank of Albania is the regulatory and supervisory entity of the banking system, being the institution that licenses, monitors and supervises second-tier banks, as well as a certain group of non-bank financial institutions. Since second-tier banks are important operators in the securities industry (mainly in the market for Government debt securities), the Bank of Albania is considered a key regulatory institution in the securities industry, in terms of allowing banks to carry out activity in this industry as well as supervising their exposure in portfolio investments.