Deposit Insurance Schemes - Deposit Insurance Agency

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Based on Law no. 53/2014, "On Deposit Insurance", dated 22/05/2014, as amended, the Deposit Insurance Agency insures the deposits of private customers, legal entities (sole entrepreneurship, commercial companies) who keep their savings in second tier banks, hence in all entities that are licensed by the Bank of Albania to conduct banking operations. Additionally, the Agency insures and compensates based on ownership and recognized possession of deposits held by individuals, i.e. the deposits of Albanian citizens up to the value of ALL 2,500,000.

What is not insured?

With reference to the article 32 of the Law "On Deposit Insurance", amended, the Deposit Insurance Agency does not insure:

a) any part of a deposit in the bank or branch of a foreign bank that exceeds the value of ALL 2,500,000 (two million five hundred thousand) or its equivalent amount in a foreign currency (counter value);

b) the part of the deposit in the savings and loan associations that exceeds the value of  ALL 2,000,000 (two million) or its equivalent amount in foreign currency (counter value);

c) deposits of the bank, branch of the bank, branch of a foreign bank or savings and loan associations in its name or on its behalf , as well as the deposits of any other financial subject licensed by the Bank of Albania and Financial Supervision Authority;

ç) deposits of the director, administrator of the bank and their close relatives, according to the Family Certificate;

d) deposits of any person possessing 5% or more of the capital of the subject or of the voting shares of this subject;

dh) deposits resulting from an activity related to money laundering and terrorism financing, which are declared illegal by a final court decision;

e) deposits of insurance and re-insurance local or foreign companies;

f) deposits of enterprising companies or collective investments, local or foreign;

g) deposits of pension funds or pension insurance, local or foreign

gj) securities issued by financial entities and any kind of other liabilities that these subjects are due based on their promissory and commitment agreements;

h) deposits of local or central governance of the Republic of Albania or of a foreign country;

i) unnamed deposits and/or those whose title of ownership is not clearly defined;

j) deposits placed in the accounts of members of the deposit insurance scheme during or after the occurrence of the insurance event;

k) deposits of members of the governing bodies of the savings and loan associations, according to the provisions of the law on savings and loan associations, except for the general assembly;

l) deposits of legal entities, except those defined in point 17, article 3, of law no. 53/2014 "On Deposit Insurance", as amended.

For further details, please read the information on the official website of the Deposit Insurance Agency, at the address: