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 “pay box 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.
Any depositor who is a member of a bank or SCA is a beneficiary of the insurance scheme and deposit. These include any individuals, traders and companies, residents or non-residents, Albanian or foreign citizens who have a deposit in a bank or SCA in ALL or in a foreign currency, according to law no. 53/2014, dated 22.05.2014 “On Deposit Insurance”, amended.
Foreign currency deposits are insured up to the same amount. In case of an insurance event, foreign currency deposits are converted to ALL, at the exchange rate on the day of the intervention by the Supervisory Authority (Bank of Albania). The compensation process duration is 3 months from the date of intervention by Bank of Albania on an insured subject.
The initial financing of the deposit insurance scheme was derived by the state budget. The deposit insurance fund for banks and SCAs has continued to grow through the payment of the initial contribution of subjects joining for the first time as well as the payment of the periodic insurance premiums. The deposit insurance premium is calculated by the member entities and paid on a quarterly basis to the Agency’s Bank of Albania account.
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.