ADIA - Albanian Deposit Insurance Agency
Based on Law No. 53/2014 “On Deposit Insurance”, as amended, deposits placed in Ziraat Bank Albania are part of the deposit insurance scheme. This scheme guarantees that customer savings are protected and, in the event that a bank is unable to meet its obligations, compensation is made up to the legal limit of 2,500,000 lek for each depositor.
Who is covered by the deposit insurance scheme
The deposit insurance scheme includes all savings accounts and products that customers hold in Ziraat Bank Albania, according to Law No. 53/2014:
- Individuals (citizens) with deposits in lek or foreign currency, placed in current accounts, savings accounts or long-term deposits.
- Natural persons, traders, with business accounts or deposits related to their commercial activity.
- Commercial companies, with current accounts and long-term deposits registered with the bank.
- Joint deposits, which are divided proportionally between the co-owners according to the contract or, in the absence thereof, in equal parts.
What is not insured?
The law provides for several exceptions, such as deposits exceeding the legal limit, deposits of banks and financial entities for their own account, those of managers and main shareholders, as well as deposits related to illegal activities, insurance companies, pension funds and public entities.
These exceptions are clearly defined in Article 32 of the Law ""On Deposit Insurance"", as amended, ASD does not insure:
a) the part of the deposit in a bank or branch of a foreign bank with a value exceeding 2,500,000 (two million five hundred thousand) lekë or the equivalent amount (countervalue), in foreign currency;
b) the portion of the deposit in the savings and credit society with a value exceeding 2,000,000 (two million) lekë or the equivalent amount (countervalue), in foreign currency;
c) deposits of the bank, bank branch, foreign bank branch and savings and credit society in its own name and for its own account, as well as any other financial entity licensed by the Bank of Albania and the Financial Supervisory Authority;
ç) deposits of the director, administrator in the bank and their family members, according to the family status certificate;
d) deposits of any person who owns 5 percent or more of the capital of the member entity or of the voting shares in this entity;
dh) deposits derived from activities related to money laundering and terrorist financing, which have been declared illegal by a final court decision;
e) deposits of insurance and reinsurance companies, domestic or foreign;
f) deposits of collective investment or enterprise entities, domestic or foreign;
g) deposits of pension or pension insurance funds, domestic or foreign;
gj) securities issued by financial entities and any other obligation that these entities have based on their promissory agreements;
h) deposits of central or local government units, as well as any public entity of the Republic of Albania or of a foreign country;
i) unnamed deposits and/or whose title is not clearly defined;
j) deposits placed in the member entity of the deposit insurance scheme during and after the day of the insurance event in this entity;
k) deposits of members of the management bodies of the savings and credit society, according to the definitions in the law on savings and credit societies, except for the general assembly;
l) deposits of legal entities, except those specified in point 17, article 3, of law no. 53/2014 “On Deposit Insurance”, as amended.
For more details, please read the information on the official website of the Deposit Insurance Agency, at the address: www.asd.gov.al.