On 30 March 2016, the Parliamentary Commission of Economy and Finance, scrutinized and adopted, without comments, the draft Law “On some amendment and additions to the Law no. 53/2014, of 22.05.2014 “On deposit insurance””.
The draft Law is a step forward for further development of the deposit insurance scheme of our country in compliance with the International Standards for Effective Deposit Insurance Schemes, as well as Directive 2014/49 /EU of the European Parliament and Council “On deposit guarantee schemes”. This iniciative aims the inclusion in the scheme of deposits of traders and companies. The coverage of these deposits is proposed to take effect on January 1st, 2017.
This iniciative is in acordance with the restructuring reform of the saving and credits associations, initiated by the Bank of Albania and the World Bank.
The draft Law aims to contribute in strengthening of the financial stability in Albania, through increasing the base of depositors protected by the scheme, and their confidence in the deposit insurance scheme.
The draft Law was adopted on 14 April 2016.
