Banking Regulations for Financial Crimes in Albania Take Center Stage

Overview of Banking System in Albania

The banking system in Albania is governed by a comprehensive set of laws and bylaws that regulate the activities and operations of the Bank of Albania, as well as institutions it licenses and oversees.

Two-Tier Structure of the Banking System

Tier 1: The Bank of Albania

• Serves as the central bank and regulator
• Oversees banks and branches of foreign banks, as well as non-bank financial institutions licensed by the Bank of Albania

Tier 2: Licensed Institutions

• Banks and branches of foreign banks
• Non-bank financial institutions licensed by the Bank of Albania

Key Laws and Regulations

Statute of the Bank of Albania

• Outlines institutional, administrative, and operational procedures in accordance with the organic Law governing the bank’s establishment

Bylaws Issued by the Bank of Albania

• Provide further guidance on rules and procedures that govern the banking system in Albania
• Issued in line with the Law “On the Bank of Albania” and the Law “On banks in the Republic of Albania”
• Include decisions, regulations, orders, and guidelines to ensure compliance with banking regulations

Role of the Bank of Albania

As the central bank and regulator, the Bank of Albania plays a critical role in ensuring the stability and integrity of the financial system in Albania. Its laws, statutes, and bylaws are designed to prevent financial crimes and promote a safe and secure banking environment for citizens and businesses alike.