Albanian Financial Supervisory Authority

Last updated

The Authority (AFSA) was setup in the year 2006 as a Public organization. The AFSA is solely Responsible for the maintenance and supervision of all major financial activities going on in Albania. The reports from the AFSA are directly submitted to the Albanian Government. [1] The AFSA majorly concerns about the safety and security of the rights of their customers. They also try to bring in reliability, transparency in insurance area, securities and pension funds sector. For all the Interested parties, the AFSA provides high standard of services, expertise and transparency in their work. [1]

All the financial activities in Albania are administered and regulated by the Albanian Financial Supervisory Authority (AFSA). [2] Mark Crawford, Head of the American Chamber of commerce, recently stated in an Interview that the Albanian Securities Exchange (ALSE) will soon make the field better by attracting the foreign investors. [3] He also stated that opening of stock exchange could be the start for the investors. Starting with the Tax relief, some other policies can be developed in accordance to attract the Foreign Investors. The Head also requested the Government of Albania to focus on Such Policies. [3]

In July 2017, the joint stock company ALSE (The Albanian Securities Exchange), the very first private securities exchange was Authorized by the Albanian Financial Supervisory Authority (AFSA) in Albania. In the Starting itself the AFSA made it clear that the ALSE will majorly focus on the Government Securities Trading in the very first Year of establishment. The Founders of the ALSE were the Americans Bank of Investments and Credins Bank with a share of 42.5% each and AK with 15% of investments. [3]

For the development of Financial Sector In Albania, FSVC (Financial Services Volunteer Corps) got funding from USAID, under the administration of Volunteers for Economic Growth Alliance (VEGA). The Bank of Albania (BoA), the Albanian Financial Supervisory Authority (AFSA) and the Albanian Deposit Insurance Authority (ADIA) get the technical support from FSVC under the Financial Sector Development program (FSDP). [4]

See also

Related Research Articles

<span class="mw-page-title-main">Financial regulation</span> Rules or restrictions for financial institutions

Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that involve retail clients and/or Principal–agent problems. An integral part of financial regulation is the supervision of designated financial firms and markets by specialized authorities such as securities commissions and bank supervisors.

<span class="mw-page-title-main">Financial services</span> Economic service provided by the finance industry

Financial services are economic services tied to finance provided by financial institutions. Financial services encompass a broad range of service sector activities, especially as concerns financial management and consumer finance.

<span class="mw-page-title-main">Banking regulation and supervision</span> Policy framework for credit institutions

Banking regulation and supervision refers to a form of financial regulation which subjects banks to certain requirements, restrictions and guidelines, enforced by a financial regulatory authority generally referred to as banking supervisor, with semantic variations across jurisdictions. By and large, banking regulation and supervision aims at ensuring that banks are safe and sound and at fostering market transparency between banks and the individuals and corporations with whom they conduct business.

The main elements of Japan's financial system are much the same as those of other major industrialized nations: a commercial banking system, which accepts deposits, extends loans to businesses, and deals in foreign exchange; specialized government-owned financial institutions, which fund various sectors of the domestic economy; securities companies, which provide brokerage services, underwrite corporate and government securities, and deal in securities markets; capital markets, which offer the means to finance public and private debt and to sell residual corporate ownership; and money markets, which offer banks a source of liquidity and provide the Bank of Japan with a tool to implement monetary policy.

<span class="mw-page-title-main">Nigerian Exchange Group</span> Stock exchange located in Lagos, Nigeria

The Nigerian Stock Exchange (NSE), now Nigerian Exchange Group, is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the mainboard, and 4 on the Alternative Securities Market (ASeM) board. In the Fixed Income market, the NSE has 84 FGN bonds, 21 state bonds, 27 corporate bonds, 1 supranational bond, and 53 memorandum listings.

<span class="mw-page-title-main">Tehran Stock Exchange</span> Iranian stock exchange

The Tehran Stock Exchange (TSE) is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of May 2023, 666 companies with a combined market capitalization of US$1.45 trillion were listed on TSE. TSE, which is a founding member of the Federation of Euro-Asian Stock Exchanges, has been one of the world's best performing stock exchanges in the years 2002 through 2013. TSE is an emerging or "frontier" market.

<span class="mw-page-title-main">Banque du Liban</span> Central bank of Lebanon

Banque du Liban is the central bank of Lebanon. It was established on August 1, 1963, and became fully operational on April 1, 1964. In 2023, Wassim Mansouri stepped up as interim governor of the Banque du Liban after Lebanon failed to name a successor to Riad Salameh, whose term finished in July 2023.

<span class="mw-page-title-main">Muscat Securities Market</span> Stock exchange located in Muscat, Oman

The Muscat Securities Market is the only stock exchange in Oman. It was established by the Royal Decree (53/88) issued on 21 June 1988, to regulate and control the Omani securities market and to participate, effectively, with other organisations for setting up the infrastructure of the Sultanate's financial sector.

<span class="mw-page-title-main">Ministry of Finance (India)</span> Finance ministry of India

The Ministry of Finance is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.

<span class="mw-page-title-main">Financial Supervisory Commission (Taiwan)</span> Government agency in Taiwan

The Financial Supervisory Commission is an independent government agency subordinate to the Executive Yuan of the Republic of China (Taiwan). It is responsible for regulating securities markets, banking, and the insurance sector.

<span class="mw-page-title-main">Financial Supervisory Service (South Korea)</span>

The Financial Supervisory Service (FSS) is South Korea's integrated financial regulator that examines and supervises financial institutions under the broad oversight of the Financial Services Commission (FSC), the government regulatory authority staffed by civil servants.

<span class="mw-page-title-main">Egypt Financial Supervisory Authority</span> Financial regulatory authority in Egypt

The Egyptian Financial Supervisory Authority is a financial regulatory authority that regulates the financial service industry in Egypt. It is an Egyptian Government integrated agency that supervises all non-banking financial transactions and markets including capital markets, derivative markets, commodities, insurance, mortgage finance, financial leasing and factoring.

<span class="mw-page-title-main">Finance in Morocco</span>

In 2007, the financial sector of Morocco maintained an economic environment conducive to further growth of banking activity following a very good year for the sector in 2006. Morocco's banks have been largely unaffected by the credit crisis due to their limited connection to global financial markets. The number of people with a bank account increased from 25% in 2007 to 29% in 2008, while deposits rose by 11.1% to a record Dh572.3bn (€51.5bn), 20% of which belong to Moroccan nationals living abroad. Private banks are increasingly moving towards universal banking, buying companies in all segments of the financial industry. While GDP advanced 5.6% in 2008, outstanding loans jumped 23% to a record Dh519.3bn (€46.74bn) as more people bought and furnished property. As the rest of the world saw lending dry up, Moroccan banks issued more loans, showing 2.6% growth in the first five months of 2009.

<span class="mw-page-title-main">National Securities Market Commission</span> Body responsible for supervision of Spanish securities markets

The National Securities Market Commission is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy.

<span class="mw-page-title-main">Financial Supervisory Authority (Denmark)</span>

The Danish Financial Supervisory Authority (DFSA) is the financial regulatory authority of the Danish government responsible for the regulation of financial markets in Denmark.

<span class="mw-page-title-main">Jordan Securities Commission</span>

The Jordan Securities Commission (JSC) is a public institution with financial and administrative autonomy in Jordan

The Finance system in Azerbaijan consists of government policy and arrangements for borrowing and lending and the transfer of assets. The system is composed of banks, insurance companies, other financial institutions, pension system, financial markets and payment systems.

Financial regulation in India is governed by a number of regulatory bodies. Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices and case law.

Capital Market and Financial Institutions Supervisory Agency is an institution under the Ministry of Finance (Indonesia) tasked with fostering, regulating, and supervising day-to-day capital market activities as well as formulating and implementing policies and technical standardization in the field of financial institutions. The current Chairman of Bapepam-LK is Nurhaida.

References

  1. 1 2 .com, Devex. "Albanian Financial Supervisory Authority". Devex.com.
  2. ↑ "Albanian Financial Supervisory Authority (AFSA) >> globalEDGE: Your source for Global Business Knowledge". globaledge.msu.edu. Retrieved 2021-05-28.
  3. 1 2 3 "Albania's securities exchange can help attract foreign investors - AmCham head". seenews.com. Retrieved 2021-05-28.
  4. ↑ "FSVC". www.fsvc.org. Retrieved 2021-05-28.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.