TIRANA, March 3 /ATA/ Financial institutions providing payment services will be provided with insurance policies to cover professional liabilities for damage they may cause to their clients during the exercise of the activity.
At the last meeting, the Supervisory Council of the Bank of Albania approved the guideline “On the criteria for determining the minimum monetary amount of professional indemnity insurance or other comparable guarantees.”
This guideline is drafted in compliance with the requirements of the law “On payment services”, which provides for the drafting of bylaws to determine the criteria for the minimum monetary amount of professional indemnity insurance or other comparable guarantees, for entities that apply for licensing / registration to provide payment services.
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