The deposits are insured as per law no.53/14, date 22.05.2014 “For Deposits Insurance” and the Instruction no.3241, date 18.12.2014 “For Deposits Insurance in Banks”
The Insurance is effected by the Deposit Insurance Agency (A.S.D.) created for this purpose. D.I.A. It covers from the risk the time deposits (non-commercial) in All or Foreign exchange as for the residents or non-residents, held in CBA in the measure below:
D.I.A compensates the insured deposit, according to the dispositions of this law, in the measure of not more 2,500,000(two million and five hundred thousand)All, for every depositor in every insured bank, that operates in the Republic of Albania, independently of the number of the deposits or the sum deposited.
The insured deposits of each depositor in CBA placed in some deposit accounts, are gathered in one deposit only. In cases of deposit in different currencies, first it is done the conversion in All as per the official exchange rate determined by the Bank of Albania in the day of intervention and after that all the deposits are gathered in one account deposit in All.
The law “For the Insurance of the deposits” makes it compulsory the membership in D.I.A. of all the banks inside Albania and of all the foreign bank branches that have their activity within our country. The Credit Bank of Albania is considered already an “Insured Bank” and it is equipped by D.I.A with the certificate “For the insurance of the Deposits” No. 14, date 11.05.2009
$1· As per the dispositions of the Law “Over the Insurance of the Deposits”, the deposits under mentioned are excluded from the Insurance and the compensation:
The part of the deposit in he bank or in the branch of the foreign bank with the value over 2,500,000.00 (two million and five hundred thousand) All or the amount equivalent with it (counter), in foreign currency;
The deposits of the director, administrator of the bank and the closed relatives, as per determination in the law for the banks.
The deposits of each person that owns 5 per cent or more in the capital of the member subject or the shares with the right of vote in this subject;
The derivative deposits from activities related to Money Laundering and Terrorism Finance, which are declared illegal with a court decision.
The deposits of local and foreign merchants;
The deposits of juridical persons, local and foreign;
The deposits of insurance and re-insurance companies, local and foreign;
The deposits of the enterprise subjects or collective, local and foreign.
The deposits of pension funds, of pension insurance, local and foreign.
Issued titles from the financial subjects and any kind of other obligation that these subjects have based over their agreements of pledge.
The deposits of the units of central or local authority in the Republic of Albania
The deposits unnamed and/or the title of which is not determined clearly.
The deposits placed with the member subject of the security scheme of the deposits during and after the day of the event of the insurance on this subject.
The deposits of the members of the Board of Directors in the companies of saving-credit, as per the law definitions, except the general assembly.
$1· The conditions and the terms of compensation payments
The compensation starts immediately after the Bank of Albania declares the liquidation of the second level bank and announces per written D.I.A for the intervention from the Supervisor Authority.
-The Compensation of the Deposits-
The Act 39, paragraph 1 of law No.53/1 date 22.05.2014 “For the Insurance of the Deposits” determines that: The procedures of the compensation start immediately in the moment when the Agency is announced by written from the Supervisor Authority for the placement of the member subject of the Insurance deposits scheme in a constrained liquidation.
The compensation ends not latter than three months from the start date , - Act 33, paragraph 1 point a) the law No.53/14 date 22.05.2014 “For the Insurance of the Deposits” determines that : The agency insures and compensates the insurable deposits of every depositor in the bank of in the foreign branch in the measure of 100 per cent, but in every case not more than 2,500,000.00 All (Two million and five hundred thousand), independently the number of the deposits or the sort of their coin, deposited in this bank.
– The terms and conditions for the payment of the compensation –
Act 38, paragraph 2 of law No.53/14 date 22.05.2014 “For the Insurance of the Deposits” determines that: the maximum level of compensation for every depositor is calculated as per determinations of act 33 of this law, subtracting the amount of the obligations un paid in time from the depositor to every member subject, that results in delay in liquidation in the day of intervention from the Supervisor Authority.
- Act 36, paragraph 12 of law No.53/ date Nr.53/14 date 22.05.2014 “For the Insurance of the Deposits’’ determines that: The agency has the right to refuse the compensation or to claim the compensation of the insured deposits, when the right for compensation is based in untrue and misleading data and when it notices that it doesn’t have insurable interest. The insurable interest is the legal interest and the objective need of the depositor to be defended from the financial loss of the deposits in a Insurance event. Act 39, paragraph 4 of the law.
a) the payment of the amount in All to the person in the environments of the subject placed in liquidation in collaboration with the liquidator.
b) the payment of the payment in All to the person in the environments of a bank member of the scheme (agent bank)
c) the transfer of the amount of payment that is obtained from the depositor in a bank, member of the insurance scheme of the deposits.
ç) payment with a cheque
d) other ways of payment that are approved with a legal article of the Supervisor Authority
Note: This information is given in application to the act 27 – The Obligation to inform the public by the member subjects of the scheme, law No.53/14 date 22.05.2014 “For the Insurance of the Deposits”
Based on the law "For Deposit Insurance" no. 53/2014 dated 22.05.2014, accounts and deposits in BKT are insured up to the amount 2,500,000 (two million five hundred thousand) ALL from the Deposit Insurance Agency www.asd.gov.al