Bank credit in the macroeconomic plan as it was seen from the treatment, loans and guarantees for investments are among the most important and profitable activities for the bank, but in the meantime they are also the most risky activities for them. This can be said especially for our country, which rightly expects economic recovery,…
Banking Secret One of the mandatory principles on which the banking activity is based is “Safeguarding banking secrecy”. The protection of banking secrecy is expressly provided by Article 91 of the Law “On the Bank of Albania”, as well as by Article 125 of the Law “On Banks in the Republic of Albania”.Banking secrecy is…
Banking system activity Albanian legislation does not have a clear theoretical definition regarding the banking system, but even in the literature there is a confusion regarding the inclusion in the notion of “banking system”, which is due to the fact that there is a variety of financial intermediaries who provide few services. a lot of…
Banks in Albania Until the declaration of Independence in 1912, there were only branches of a Turkish bank called “Ottoman Bank” in Albania. The office of this Bank in Albania operated in the centers of the vilayets of Shkodra, Ioannina, Kosovo, Skopje, and Bitola. During their activity, the Bank’s branches were subject to the Ottoman…
Money laundering is the process by which “money launderers” seek to legitimize the proceeds of crime, illegal acts and their circulation in the financial system. Money laundering is a widespread, increasingly international phenomenon, carried out with sophisticated forms and schemes. It is currently estimated that the amount of money laundered internationally ranges from $ 500…