From 2-5 May 2023 the Albanian Deposit Insurance Agency welcomed a delegation of the Banking and Financial Supervision Commission (Commision de Supervision Bancaire et Financière – CSBF) of Madagascar. This study visit was organized in consideration of CSBF’s efforts to set up a deposit insurance scheme in Madagascar. The Albanian Deposit Insurance Agency was selected for this assistance project by the Office of Technical Assistance of the US Department of the Treasury, who are assisting the CSBF in preparing all the legal and regulatory framework necessary for the establishment and administration of an efficient deposit insurance scheme.
During this event, the Agency’s experts presented in detail the legal and regulatory environment in which the deposit insurance scheme in Albania operates, its evolution since its creation, as well as the measures taken to address potential challenges while aiming to ensure financial stability in the country.
Taking into consideration the interest of CSBF representatives regarding the operation of a deposit insurance authority with the characteristics of the Albanian Deposit Insurance Agency, part of the presentations were about the functions, tasks and responsibilities of the Agency’s structures as well as the mechanisms of interaction between them in order to ensure good governance of the institution.
Also, part of the presentations were issues related to the features of the administration of the deposit insurance scheme, its characteristics, the main indicators and the mechanisms of the administration of the Deposit Insurance Fund in banks and savings and loan associations (SCA-s) as well as the Resolution Fund.
Evaluating the role and contribution of the Agency in maintaining financial stability in the country, as a participant of the Financial Stability Advisory Group, together with the Bank of Albania, the Ministry of Finance and the Financial Supervision Authority, CSBF colleagues were presented with the regulatory framework for the operation of the financial safety net in the country.
At the end of the visit, the representatives of the CSBF and the Office of Technical Assistance of the US Department of the Treasury appreciated the achievements of the Agency and committed to the continuation of inter-agency cooperation in the future.