Paper
Regulation and Supervision of Albania's Microfinance Industry
Strengthening the microfinance regulatory environment in Albania
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16 pages
This essay provides an insight on the evolution of MFIs in Albania including regulators and donors, and covers specific microfinance legal and regulatory environments. It also provides details on the development of microfinance regulation and supervision of practitioners by the Bank of Albania (BoA).
The paper elaborates on the following aspects:
- Strengths and weaknesses of the current regulatory and supervisory systems;
- Development of BoA capacity to regulate and supervise MFIs;
- The advent of commercial banks in the microfinance market and;
- Likely developments in microfinance over the next five years.
Approximately 50% of the activity is directly inspected by BoA and there are ongoing discussions with the MFIs not fully incorporated into the system. The paper concludes by noting that further reform should begin with the needs of the clients as the financial needs of the ordinary Albanian has changed since the beginning of MFI activity.
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