Financial Crime World

Andorran Financial Institutions Must Comply with Stringent Regulations

The Andorran government has implemented a range of regulations to ensure the stability and security of the country’s financial system. These regulations aim to guarantee transparency, protect consumers, and ensure the proper functioning of the economy.

Key Requirements for Banks in Andorra

  • According to Law 7/2013, banks in Andorra must be companies that receive public deposits and other reimbursable funds.
  • They must also grant loans from their proprietary account.

The Purpose of these Regulations

These regulations aim to:

  • Guarantee the transparency and stability of the financial system
  • Protect consumers
  • Ensure the proper functioning of the economy

Supervision and Regulation by the Andorran Financial Authority (AFA)

The AFA is responsible for supervising and regulating the activities of financial institutions in Andorra. Their role includes:

  • Authorizing new entities
  • Monitoring compliance with regulations
  • Enforcing penalties for non-compliance

Unique Position as a Financial Hub

Andorra has a unique position as a financial hub, attracting international investors and consumers alike. The country’s commitment to transparency and regulatory oversight ensures that its financial system is secure and reliable.

Additional Information

For more information on the AFA and its role in regulating Andorran financial institutions, please visit their website at [website URL]. You can also contact them directly through their communication department: