Supervisory Council of the Bank of Albania satisfied after reviewing progress with Credit Registry

Tirana, 9 April 2008. In its latest meeting, the Supervisory Council of the Bank of Albania reviewed progress made by the Credit Registry office.
The Supervisory Council noted the Credit Registry is necessary for the safe development of financial markets in Albania and said it was satisfied with the progress achieved by the Credit Registry. As required, Albania’s commercial banks are regularly reporting on new loans that have been issued, the payments of old loans, loan deferments, and loans that have been paid in full. Commercial banks have also complied with their legal obligations to send, during the first two weeks of the month, complete information about their loan portfolio and its specifications for the previous month.
The information in the Credit Registry is saved and used in accordance with the law entitled, “On the Protection of Personal Data” and respective regulations. All Albanian banks have access to the register. Additionally, both citizens and legal entities have the right to consult all data stored in their name in the register to assure it is accurate. Citizens may also demand changes to incorrect information.(Tirana Times Staff)