Regulatory Alerts2016-10-05 | 104/2016Regulation 104/2016 on Licensing and Activity of Savings and Loan Associations and Their Unions
The Bank of Albania’s Supervisory Council has approved Regulation 104/2016 to establish comprehensive licensing and operational frameworks for savings and loan associations (SLAs) and their Unions. The regulation mandates minimum initial capital thresholds of ALL 5 million for basic deposit-taking and lending, or ALL 20 million for extended financial activities, while requiring rigorous documentation on capital sources, founding member integrity, and anti-money laundering compliance. It further standardizes the three-month licensing review process, outlines license characteristics and fees, and defines clear procedures for granting, suspending, or revoking licenses based on public interest and regulatory criteria.
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