Faqja Kryesore / Rreth Nesh
ADIA Profile
The Albanian Deposit Insurance Agency (ADIA) was established in 2002 and carries out its activity based on law no. 53/2014, dated 22.05.2014 on “On Deposit Insurance”, as amended.
ADIA administers the deposit insurance scheme. The agency secures deposits in banks and non-profit organizations in the territory of the Republic of Albania, which are the member subjects of the scheme. Their membership in the scheme is compulsory. ASD is a “paybox plus” model. The law “On deposit insurance”, as amended, also allows the Agency to participate by transferring financial means, of the compensation fund, during the extraordinary intervention in banks, in accordance with the provisions of the law “On recovery and extraordinary intervention in bank in the Republic of Albania”. ADIA insures deposits in each Bank up to a maximum of ALL 2.5 million per depositor per Bank. For SCA’s, the limit is a maximum of ALL 2 million per depositor, per SCA.
Beneficiaries of the deposit insurance and compensation scheme are all depositors who are members of a bank or a savings and credit association (SCA): individuals, sole traders, and commercial companies, whether resident or non-resident, Albanian or foreign, who hold deposits in a bank or SCA, in lekë or in foreign currency, in accordance with Law No. 53/2014, dated 22.05.2014 “On Deposit Insurance”, as amended.
Deposits in foreign currency are insured up to the same amount. In the event of an insured event, foreign currency deposits are compensated in lekë, using the exchange rate applicable on the day of intervention by the Supervisory Authority (the Bank of Albania). The compensation process is completed within three months from the date of the Bank of Albania’s intervention in an insured institution.
The initial financing of the deposit insurance scheme was provided by the state budget. The core fund for deposit insurance in banks and SCAs has continued to grow through the payment of the initial contribution by institutions joining for the first time and through the payment of periodic insurance premiums. The deposit insurance premium is calculated by member institutions and paid quarterly into the Agency’s account at the Bank of Albania.
ADIA is the administrator of Resolution Fund (RF). The Agency administers RF in accordance with the Financial Assets Management Policy approved by the Bank of Albania, which is the Resolution Authority.
Governing Council
Organization of the Deposit Insurance Agency
The Deposit Insurance Agency Board of Directors is the highest decision-making and supervising organ of ADIA’s activity. In compliance with Law no. 53/14, dated 22.05.2014 “On deposit insurance”, the members of the Board are appointed by the Supervisory Authority and proposed as follows:
The position-holding duration for each Board of Directors’ member is five years, and all the duration expiry dates intend to fall distributed proportionately throughout the five-year time period.
Some of the main competences and responsibilities of the ADIA Board of Directors are the following: *
*Note: For more information about the functioning of the Governing Council and its meetings, procedures for appointing and dismissing members, powers and responsibilities, please refer to articles 48 to 52 of Law No. 53/14 dated 22.05.2014 “On deposit insurance”, which can be found in the “Legislation” section of this page.