PRESS RELEASE
Revocation of licence to MCA and FINAL

Through this announcement, we inform that the Bank of Albania, today, on 23.5.2024, has decided to revoke the licences to two non-bank financial institutions, respectively, licence No. 11, dated 20.2.2009 of the company "Final" sh.p.k., and licence No. 38, dated 9.5.2016 of the company "Micro Credit Albania" sh.p.k., already suspended by Decision No. 644, dated 6.2.2024.

This decision of the Bank of Albania is based on the implemented legal and regulatory provisions that regulate the activity of non-bank financial institutions, which provide for, among other things, the cases on licence revocations, whenever the licensed entities no longer meet the requirements on the basis of which they are licensed.

In the two above-cited cases, at the request of the Prosecution’s office, the Court of the Judicial District of Tirana has imposed the arrest measures to the partners of both companies whose licence was revoked, and we are in the conditions where they no longer meet the criterion of high ethical reputation, which, among other things, provides that the individual is not under criminal prosecution, in trial for criminal offences and criminally convicted.

Also, the Bank of Albania is addressing the legal and regulatory framework related to the ongoing management of the client portfolios of both "Final" and "Micro Credit Albania" companies.

The Bank of Albania will issue a second announcement to provide full clarifications to all interested clients on how the credit portfolios of these two entities will be managed in the future.

• Decision on the revocation of licence to MCA (only in Albanian)
• Decision on the revocation of licence to FINAL (only in Albanian)