Regulatory Alerts2023-03-23 | 14/2023Regulation 14/2023 on Carrying Out Activity and Supervision of Payment Institutions
The Bank of Albania’s Supervisory Council issued Regulation 14/2023 to establish comprehensive rules for the licensing, operational activities, and supervisory oversight of payment institutions. The regulation mandates robust risk management and internal control frameworks, including dedicated compliance and internal audit functions, while enforcing strict capital adequacy and client fund safeguarding requirements. It defines precise capital calculation methods based on payment volumes, outlines permissible non-payment activities, and sets clear prudential standards to ensure financial stability and regulatory compliance across the sector.
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