Scandal with microcredits/ Minister of Finance "points the finger" at the Bank of Albania

The Minister of Finance Petrit Malaj answered the questions of journalists regarding the microcredit scandal in a press conference.

Malaj said that the Ministry of Finance is committed to this issue, but stressed that financial institutions should be monitored by the Bank of Albania.

According to the minister, the Bank of Albania will have to make its own regulatory changes in order to improve the monitoring part of the activity of non-bank financial institutions.

"Regarding microcredit issues, this is an issue that the Ministry of Finance is engaged in, but you must understand that financial institutions, not banks, are institutions that are monitored and must be monitored by the Bank of Albania. This is an issue that we are in communication with the Bank of Albania to see which legal changes are necessary from the Ministry of Finance's side that we need to address, but on the other hand, the Bank of Albania will also have to make its own regulatory changes in order to improve the of monitoring the activity of non-bank financial institutions", said the Minister of Finance./ CNA

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