TIRANA, June 2 /ATA/ President of the Republic Ilir Meta sent back to parliament for reconsideration the law “On payment services.”
Meta said that some of the reasons for sending back the law to parliament are the lack of clear criteria for licensing payment institutions; failure to determine concrete violations that lead to decision-making for revocation of the license; failure to determine clear and exhaustive supervisory functions of the licensing authority and mechanisms on the way of exercising this supervision.
The law is a proposal of the Council of Ministers and aims to develop a legal framework for the functioning of payment services in the Republic of Albania, partially aligning it with EU Directive 2015/2366 of the European Parliament and of the Council, dated 25 November 2015, “ For payment services in the domestic market. ”
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