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Compliance Procedures for Banks in Albania: A Guide to Customer Complaints

The Bank of Albania has established a comprehensive framework for handling customer complaints submitted to its Supervision Department. The process is designed to ensure that complaints are treated fairly and efficiently, with the goal of resolving disputes in a timely manner.

Handling Complaints

Customer complaints are typically handled by the Supervision Department in collaboration with the Legal Department. When addressing a complaint, the Bank’s Supervision Department will conduct an independent investigation into the matter, gathering additional information from the financial institution concerned if necessary. The department will also coordinate its efforts with the Legal Department to ensure that all relevant laws and regulations are taken into account.

Client Expectations

• Customers can expect a prompt and thorough investigation into their complaint, with regular updates provided throughout the process.
• If the complaint is found to be justified, customers can expect the financial institution concerned to take corrective action, which may include compensation or other remedies.

In cases where a dispute cannot be resolved through the Bank’s internal processes, customers are advised that they have the right to seek redress through the courts. The relationship between banks and their customers is governed by civil law principles, and customers should be aware of their rights and obligations under these laws.

What Should Complaints Contain?

• Complainants should provide documented evidence of any previous communication with the financial institution concerned.
• This may include contracts, correspondence, and other relevant documents that support the customer’s claim.
• In addition to a clear and concise written complaint, customers are advised to provide as much detail as possible about their situation, including dates, times, and names of individuals involved.

Who Can File a Complaint?

Any customer of a bank or non-bank financial institution licensed by the Bank of Albania may file a complaint with the Supervision Department. This includes:

• Existing customers
• New customers who have not yet completed their initial transaction

The Bank prioritizes complaints from households and natural persons, recognizing that this group is often more vulnerable due to limited knowledge and resources.

Customers can submit a complaint directly or through a representative (such as a law firm or lawyer), provided they are authorized to act on behalf of the customer by way of a notarized proxy.