WHAT WE SHOULD KNOW?
 
What does deposit insurance mean?
Role and mission of creation of DIA?
What is protected?
What is not protected?
  www.bankofalbania.org

Working visits of Mr. Toni Gogu, General Director of the Albanian Deposit Insurance Agency, to the Deposit Insurance Fund of Macedonia and to the Bulgarian Deposit Insurance Fund

On the conclusion of the workshop on the “Assessment of Compliance with Core Principles for Effective Deposit Insurance Systems”
www.iadi.org www.imf.org
www.efdi.net www.worldbank.org
  Welcome !

 

Dear depositors,

Albanian Deposit Insurance Agency, is established since October 2002    as part of  Albanian safety net, its main target is protection and compensation of individuals deposits in banking system, with final aim  at the contribution to strengthen the financial system in Albania.

Law no. 8873, dated 29.03.2002 "For Deposit Insurance", amended by Law no. 10 106, dated 30.03.2009 "On some amendments and addenda to Law no. 8873, dated 29.03.2002 "On Deposit Insurance", approved  by the Albanian Assembly  aims at approaching  the ADIA legal framework to the European  Union  Deposit Guarantee  Directives  , as well as strengthening the role of the Albanian Deposit insurance Agency   , in function of   increasing  the effectiveness of deposit insurance scheme, the integration of our country in the European Union, as well as improving the legal framework  for the progress    of the banking  system in the Republic of Albania.

Main amendments  provided by this Law consist on  :

  1. Increase  of the coverage amount for the insured deposit up to the amount of 2.500.000 (two million five hundred thousand) Lek, for each depositor to each insured bank.
  2. Remove of the criteria for the co-insurance.
  3. Reduction of the period  for the beginning of the compensation process.
  4. Increase the power of the Agency and strengthen its role within the function of ”pay box”.

Actually yours savings deposited in  any bank operating in Albania are insured by the Law nr. 8873, dated 29.03.2002 “On Deposit Insurance” amended by the law no 10101 date 30.03.2009 “ On some amendment and addenda  on the law no 8873 date 29.03.2002 On deposit insurance”.

The impact of these amendment brought  the   number of the fully covered depositors   subject of these Law over 90 % of the total number of the depositors in the banking system  , referring to the latest data of the Agency .