Regulatory Alerts2008-08-29 | 59/2008Regulation on Transparency for Banking and Financial Products and Services
The Supervisory Council of the Bank of Albania issued this regulation to mandate comprehensive transparency requirements for all licensed banking and financial institutions operating in the country. It requires these entities to clearly disclose loan and deposit interest rates, commissions, and associated risks in accessible formats while standardizing the calculation and reporting of effective interest rates to customers. Furthermore, the regulation enforces pre-contractual information obligations, periodic quarterly reporting to the central bank, and specific disclosure rules for variable rates, foreign currency exposures, and credit card agreements.
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