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.

What is the compensation amount?

ADIA insures and compensates EACH DEPOSITORS, IN EACH BANK, up to the maximum legal level of 2,500,000, ALL regardless of the number of deposits or the type of currency, in the event that the Bank of Albania places a bank in forced liquidation and revokes its license.
Also, ADIA insures and compensates EACH DEPOSITORS, IN EACH SAVINGS-CREDIT SOCIETY up to the maximum legal level of ALL 2,000,000, regardless of the number of deposits or the type of currency, in the event that the Bank of Albania decides on forced liquidation of a savings-loan society and revokes its license.
The insured sum of 2,500,000 ALL includes principal and accrued interest until the license revocation date. The sum of 2,500,000 ALL, which is benefited from the compensation, will be deducted from the unpaid obligations on time. The same principle also applies to the calculation of the insured amount in savings and credit companies, up to the maximum legal level of 2,000,000 ALL.

Deposits of natural and legal persons in the same bank are insured separately up to 2,500,000 ALL.
Depositors should be aware that ADIA does not hold any interest on the amounts paid in the compensation process.
According to the law, the amounts in the account, where the balance is less than 100 ALL, are non-payable.
In case of merger of banks, deposits in each bank are secured up to 3 (three) months after the merger. After the expiration of this period, a person’s deposits in both banks are combined and insured and compensated as a single one.
If the depositor also has obligations (loans) unpaid on time to the bank/sca, they are calculated and deducted from the amount of compensation that resulted for that depositor.
A deposit that serves as collateral or guarantee is not included in the calculation of the insured amount and is not compensated.
For the part that exceeds the maximum legal level (2,500,000 ALL for deposits in banks and 2,000,000 ALL for deposits in savings and credit companies) the depositors turn to the liquidator appointed by the Bank of Albania for the administration of the assets of the bankrupt bank/sca, in accordance with the legislation in force.

Example 1

Z has a bank account in the amount of 200,000 all and a savings account in the amount of 900,000 ALL including accrued interest. Z will benefit from the 1,100,000 ALL deposit insurance scheme.

Example 2

Y has a savings account in the amount of 100,000 ALL, as well as a loan for which he has not paid the monthly installment of 25,000 ALL.
Y will benefit 85,000 ALL as the unpaid obligations for the loan installment will be deducted from her savings account.

Example 3

Z and N have a joint bank account in the amount of 3,000,000 , while N also has a savings account in the amount of 1,000,000 ALL.
Z will benefit from the sum of 1,500,000 ALL from the joint account, which is divided between Z and N.
N will benefit 2,500,000 ALL, since 1,500,000 ALL are from the joint account, plus 1,000,000 ALL from the savings account.

Example 4

J has a bank account in the amount of 500,000 ALL, a savings account in the amount of 1,000,000 ALL, and a merchant account in the amount of 2,700,000. For the benefit of J, a bank account was opened in the amount of 400,000 ALL by Mr. J will benefit from the deposit insurance scheme:
a. as an individual: 500,000 + 1,000,000 + 400,000 = 1,900,000, i.e. the deposits of J and the deposits as beneficiaries of Mr.
b. as a trader: 2,500,000 ALL, i.e. no more than the maximum level of coverage in a bank.

Example 5

L has a savings account in the amount of 27,000 euros, in a savings and credit company, including interest accrued up to the valuation day. This amount is converted into ALL, e.g. 27,000 x 104 = 2,808,000 ALL.
L benefits from ALL 2,000,000 up to the maximum level of coverage in the sca.

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