Micro Credit Albania, fraud scheme?/ Sejko: We suspended the license, the investigation is up to the prosecution

2024-05-08 17:30:00, Aktualitet CNA

Micro Credit Albania, fraud scheme?/ Sejko: We suspended the license, the

Gent Sejko

At the end of December 2023, the Bank of Albania suspended the license of the financial lending institution, Micro Credit Albania (MCA).

The suspension of the license came as a result of violations of regulatory requirements for a long time by Micro Credit Albania (MCA).

The Governor of the Bank of Albania, Gent Sejko, was asked about this decision during a conference with journalists.

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The latter said that the license of Micro Credit Albania was not totally revoked just because the clients would be out of the credit register administered by the Bank of Albania.

Sejko emphasized that the Bank cannot conduct investigations and that this matter belongs to the prosecution.

"The problem is related to the collection of bad loans, around 2010, after the crisis of 2008. To reduce bad loans, we made an emergency plan, which included a number of measures, and one of the points was the deletion of bad loans.

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We do not have any official information from the General Prosecutor's Office or SPAK, to see if there is abuse of office. What we have done is that we have taken the measures according to the legal requirements, the violations found were with the provisions, with the financial reporting, which are not related to the financial investigation, because we do not investigate financial fraud.

We have suspended the license, we have not removed it, because it would take all customers out of the credit register administered by BSH, this would create a precedent that loans are forgiven and not paid, it would increase problem loans, but bring problems where those who have paid would be classified as bad customers. Revoking the license does not solve the customers' problem, because the debt is an executive title that goes through the court and is resolved by enforcement procedures," said Sejko./ CNA