Mrs. Vasilika Vjero

Mrs. Vasilika Vjero was born in Tirana in 1976.
Mrs.Vjero graduated from the University of Tirana, Faculty of Economics, Department of Business Administration in 1998. In 2003 she completed a master’s degree from the University of Nebraska, Lincoln USA, and University of Tirana, Faculty of Economy. She has also been trained in economic growth by Harvard Kennedy School.
Ms. Vjero has held senior management positions, such as General Director of Taxes, General Director of the National Business Center, General Director of the Albanian Road Authority. In her career she counts more than 10 years of work experience for the Municipality of Tirana in the management of the Tax Administration and the Department of Strategic Planning and local budgets, as well as a series of experiences as a financial expert with foreign donors. She has also served as an expert independent fiscal and budget for local government in Albania for a total of 24 municipalities and communes throughout the country.
Ms. Vjero speaks english and italian.

Mr. Genc Mamani

Genci Mamani is the General Director of the Albanian Deposit Insurance Agency and at the same time a member of its Steering Council.
Mr. Mamani, graduated in 1991 at the University of Tirana, Faculty of Economics, Department of Finance.
In 2001 he completed postgraduate studies at the University of Wisconsin – La Cross, USA, in finance – banking and in 2012 he postgraduate at master’s level in Business Administration at the International Hellenic University, in Thessaloniki, Greece.
Mr. Mamani started his career in 1991 as an economist at the Central Bank of Albania. He pursued his career by holding managerial positions on different commercial banks such as FEFAD Bank (actually Pro Credit Bank), the Italian-Albanian Bank and further on to be back at the Bank of Albania until late 2015. In July 2015 he took over as General Director of the Deposit Insurance Agency.
Mr. Mamani is fluent in English and Italian.

Mr. Donald Duraj

Mr. Donald Duraj was appointed Chairman of the Board of Directors of the Deposit Insurance Agency in 2015. He has a progressive career of more than 15 years in the banking system, an integral part of which have been quite active and successful achievements within various prestigious local financial institutions and those in the international network such as Austria, Poland, Slovakia, Ukraine and Belarus. Since 2015, Mr. Duraj holds the position of Chief of Staff of the Governor of the Bank of Albania with the responsibility of advising, assisting, monitoring and coordinating all issues related to the progress and proper functioning of the Governor’s Office and other departments of the Bank of Albania. From 2010 to 2015 Mr. Duraj was Head of Commercial Organization and Market Development Sector at Societe Generale Bank in Albania playing a key role in the strategic direction, short-term and long-term planning, setting key objectives, coordinating inter-divisional and inter-institutional relations, locally and internationally, with public and private companies, et cetera. During this period Mr. Duraj has successfully led at least 15 projects, among the most important ones for the Bank, and with a direct impact on the expansion of activity in the local market and with an increase in profitability. Mr. Duraj worked from 2005 to 2010 at Raiffeisen Bank Albania and Raiffeisen International Austria covering key operational and strategic positions. The most important of them were Head of Individuals Segment, Head of Consumer Credit Products, Project Manager in the “Retail Leadership” Program at Raiffeisen International Austria, etc. Mr. Duraj has graduated at the Faculty of Economics, Department of Finance, Banking Profile, at the University of Tirana.

06/15/2016

Meeting of the Financial Stability Advisory Group 14 June 2016

PRESS RELEASEnnMeeting of the Financial Stability Advisory Group nn14 June 2016 nn n

The Financial Stability Advisory Group (FSAG) held its regular meeting on 14 June 2016. The attendees were the Minister of Finance, Governor of the Bank of Albania, Chair of the Board of the Financial Supervision Authority, Director General of the Deposit Insurance Agency, as well as other representatives from these institutions.

According to the program, representatives of the Bank of Albania, at the beginning of the meeting, presented an assessment of financial performance and risks for the banking sector activity based on the data of March this year. The participants assessed that the financial situation of the banking sector is stable, while credit in the domestic currency and the overall performance of deposits is at good levels. They also analyzed the relevant indicators of risks to the banking activity. The analysis showed that the good levels of capitalization and liquidity in the banking sector provide sufficient protection against banking activity risks.

In addition, participants discussed on the need to strengthen the upward trend of using the local currency in the Albanian economy and the financial system, as an instrument which improves the effectiveness of the monetary policy transmission mechanism and reduces risks to financial system stability. Based on the recommendations of the international financial institutions and of European ones, FSAG suggested the review of other countries’ experience in this regard and the assessment on the actions that could be taken in medium term and in reflection of Albanian economy characteristics.

Referring to the discussions and conclusions of the January 2016 meeting, the participants reaffirmed the importance of monitoring the online trading platforms and of the inter-institutional cooperation, in order for the public to know the risks of investing in these platforms and to only accomplish such investments through licensed and supervised entities.  Furthermore, the participants assessed some concrete aspects of the financial infrastructure which supports the interactions of banks and non-banks financial institutions according to the legal stipulations.

At the conclusion of discussions in the meeting according to the program, the heads of the participating institutions approved this press release and authorized its publication.

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