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Albania: fintech & payments regulation

Regulated

Albania fintech: BoA regulates payments/e-money under 2021-2023 regulations

Lead regulator:
Bank of Albania
Key law:
Regulation No. 59/2021 on the Licensing of Payment and Electronic Money Institutions
Last updated:
2026-07-12

The Bank of Albania is the sole regulator for payment and electronic money services, operating under a comprehensive licensing framework established by Regulation No. 59/2021. This regime covers payment institutions, electronic money institutions, and account information service providers, requiring specific capital thresholds and operational approvals.

Recent regulatory updates include Regulation 14/2023 for payment institutions and Regulation 57/2022 for electronic money institutions, which mandate robust risk management, internal controls, and strong customer authentication standards. The regulator also enforces transparency through fee comparability rules and maintains a public register of all licensed providers.

The regulatory environment is active and evolving, with the central bank issuing guidelines on professional indemnity insurance and establishing a bridge bank resolution tool. While the framework is well-defined for traditional fintech activities, specific provisions for emerging technologies like crypto-assets are not detailed in the provided source documents.

Who regulates

  • Bank of Albania

    Primary supervisor for payment institutions, electronic money institutions, and non-bank financial institutions

    [1][2][3]

Core laws & rules

  • Regulation No. 59/2021 on the Licensing of Payment and Electronic Money Institutions (2021)

    Establishes the comprehensive licensing and registration framework for payment institutions, electronic money institutions, and exempted payment service providers, including minimum capital requirements.

    [3]

  • Regulation 14/2023 on Carrying Out Activity and Supervision of Payment Institutions (2023)

    Sets operational, supervisory, and risk management rules for payment institutions, including internal control frameworks.

    [1]

  • Regulation 57/2022 on Carrying Out Activity and Supervision of Electronic Money Institutions (2022)

    Defines operational and supervisory rules for electronic money institutions and banks acting as e-money issuers.

    [2]

Licensing & registration

  • Payment Institution

    Requires licensing under Regulation 14/2023 and initial capital thresholds defined in Regulation 59/2021. Capital: 2.5 million to 4 million ALL (implied by range in Reg 59/2021)

    [3][1]

  • Electronic Money Institution

    Requires licensing under Regulation 57/2022 and initial capital thresholds defined in Regulation 59/2021. Capital: 2.5 million to 4 million ALL (implied by range in Reg 59/2021)

    [3][2]

Restrictions & warnings

  • Payment service providers must implement strong customer authentication and secure communication standards as per Regulation 29/2022.

    [4]

  • Providers must maintain minimum professional indemnity insurance or comparable guarantees calculated via a risk-based formula.

    [5]

  • Fee comparability and transparency are mandated for payment accounts and switching services.

    [6]

Direction of travel

  • The regulatory framework is actively updated, with recent focus on operational supervision, risk management, and consumer protection (fee transparency).

    [1][6]

Sources

  1. Regulation 14/2023 on Carrying Out Activity and Supervision of Payment Institutions · 2023-03-23
  2. Regulation 57/2022 on Carrying Out Activity and Supervision of Electronic Money Institutions · 2022-12-21
  3. Bank of Albania Regulation on the Licensing of Payment and Electronic Money Institutions · 2021-11-24
  4. Bank of Albania Regulation 29/2022 on Strong Customer Authentication and Secure Communication Standards · 2022-06-01
  5. Guideline 1/2022 on the criteria for stipulating the minimum monetary amount of professional indemnity insurance or comparable guarantees · 2022-03-02
  6. Regulation 59/2022 on the comparability of fees for payment accounts and switching services · 2022-12-21

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This guide is compiled automatically from 6 primary-source documents published by Albania's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.