Regulatory Alerts2007-06-06 | 31/2007Regulation 31/2007 on Licensing, Organisation, Activity and Supervision of Foreign Exchange Bureaus
The Bank of Albania’s Supervisory Council issued Regulation 31/2007 to establish comprehensive criteria and operational rules for the licensing, organization, activity, and supervision of foreign exchange bureaus. The regulation mandates a minimum initial capital of 5,000,000 Albanian lek, detailed documentation requirements for applicants, and strict suitability assessments regarding the integrity of shareholders, beneficiary owners, administrators, and authorized cambists. It further outlines ongoing operational obligations, including premises and equipment standards, commission payments to the central bank, mandatory registration in the Electronic Regulatory Reporting System, and enhanced anti-money laundering compliance checks.
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