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Deposits Insurance Agency


Deposit Insurance Agency (ASD)

Why your money is safe in Banks?


What is a Deposit Insurance Agency (ASD)?

Law no. 53/2014, dated 22.05.2014 "On Deposit Insurance" as amended, sets out the rules for the operation of the deposit insurance scheme of natural persons (individuals), traders and companies in banks and savings and credit associations in the Republic of Albania.
Deposit Insurance Agency (ASD) Secures and Compensates the insurable deposits of each depositor in each member entity of the scheme as follows:

In the bank or in the branch of the foreign bank in the amount of 100 percent, but in any case not more than 2 500 000 LEK, regardless of the number of deposits or the type of their currency, deposited in this bank.
In this way, Your money is safe in the Bank and are also provided with zero cost for you as a customer up to a maximum amount of 2,500,000 ALL. It is the Banks that have the legal obligation to pay for the deposit insurance. If a customer (resident, non-resident, individual or business entity) has not only a checking account, so there is also a savings or deposit account, regardless of currency, the total amount of money in all accounts together up to a maximum of 2,500,000 ALL is provided. The Deposit Insurance Agency has established a fund which serves to secure and compensate deposits. The compensation process starts when the Deposit Insurance Agency is notified by the Supervisory Authority that the bank has started the compulsory liquidation process. Foreign currency deposits are compensated up to the limit set by law. They are converted into Lek at the exchange rate set by the Bank of Albania on the day the Bank is liquidated.

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