Paper
Rulebook for the Licensing of Savings and Credit Associations and their Unions
What are the licensing procedures for Savings and Credit Associations and their unions in Albania?
Download11 pages
This document provides the rule book for licensing of Savings and Credit Associations and their unions. It stipulates the time period, procedures and conditions for the approval or refusal of the granting of a license, and also for its suspension or revocation.
The document also provides the list of documents required at the time of applying for a license. These include:
- List of savings and credit associations, members of the union;
- Request for a license signed by the Chairman of the board of directors of the association and the Chairman of the board of directors of the union;
- Declaration of commitment signed by the Chairman of the board of directors of the savings and credit association.
The document concludes with contemporary dispositions of the rulebook which specify that:
- Until the decision is taken by the Bank of Albania for the approval or the refusal of the request for a license, the savings and credit association continues its activity;
- The association liquidates in the event of the refusal of the request for the grating of a license;
- Savings and credit associations, which are members of a licensed union, entrust in the union the right to give all information for the completion of requests for granting of a license.
About this Publication
Published
