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Regulation and supervision of microfinance in Albania

Author

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  • Rezart Hoxhaj

    (Faculty of Economy, University of Vlora “Ismail Qemali”, Albania.)

Abstract

This paper describes important regulation issues that concern microfinance. It starts by considering literature on how and why to regulate and supervise microfinance. Considering the specific case of microfinance in Albania, it analyzes the context of this industry and some particular issues that might influence its growth. Related regulation in Albania seems to be not activity–oriented since a real definition of microfinance is lacking in the Albanian law. Therefore, Albanian microfinance sector needs, first of all, a microcredit and microfinance definition to implement the right development policies and avoid confusion and license misuse. Moreover, the regulatory framework seems to be too restrictive for institutions supposed to be engaged in microfinance example high capital requirement and provisioning. Possible interventions can be in lowering minimum capital requirements for NBFIs to improve entrance, simplifying procedures, documentation and harmonization of the taxation treatment of institutions to enhance development, encourage access and avoid market distortions. There is the need to implement regulation considering microfinance as an activity, and develop a regulatory framework to induce commercial banks integrate downward into the microfinance market and help informal start-ups institutions develop and get formalized.

Suggested Citation

  • Rezart Hoxhaj, 2010. "Regulation and supervision of microfinance in Albania," Business and Economic Horizons (BEH), Prague Development Center, vol. 2(2), pages 75-81, July.
    • Handle: RePEc:pdc:jrnbeh:v:2:y:2010:i:2:p:75-81
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    References listed on IDEAS

    as
    1. van Greuning, Hennie & Gallardo, Joselito & Randhawa, Bikki, 1999. "A framework for regulating microfinance institutions," Policy Research Working Paper Series 2061, The World Bank.
    2. World Bank, 2008. "Microfinance Institutions and Credit Unions in Albania : Regulatory, Supervisory and Market Development Issues," World Bank Publications - Reports 12899, The World Bank Group.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tchakoute Tchuigoua, Hubert, 2016. "Buffer capital in microfinance institutions," Journal of Business Research, Elsevier, vol. 69(9), pages 3523-3537.
    2. Sekabira, Haruna, 2013. "Capital Structure and Its Role on Performance of Microfinance Institutions: The Ugandan Case," Sustainable Agriculture Research, Canadian Center of Science and Education, vol. 2(3).

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    More about this item

    Keywords

    Microfinance institution; regulation; supervision; credit union; non-bank financial institution.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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