English
Shqip
13 September 2017
AFSA’s Executive General Director Meets with High-Level Representatives of SECO
The Executive General Director of the Albanian Financial Supervisory Authority (AFSA), Mr. Ervin Koci organized a meeting on September 13th 2017, with senior representatives of the Swiss State Secretariat for Economic Affairs (SECO). During the meeting with the Head of SECO's Economic Cooperation and Development Division, the Ambassador Raymund Furrer, the Ambassador of the Swiss Confederation to Tirana, Mr. Christoph Graf and other representatives from SECO in Albania, it was discussed about the continuous support provided by the Swiss Government to Albania, specifically to the Financial Supervisory Authority, through the financing of strategic projects.
AFSA’s Executive General Director expressed his gratitude to the high-level representatives of SECO, for the assistance provided in regards to the current project “Strengthening Supervisory Capacities of AFSA: Focus on the Capital Market Development. Mr. Koci emphasized the importance of this project, not only for the Authority, but also for the investors and the country’s economy.
“The project financed by SECO, is particularly significant for the rapid development and high dynamic growth experienced by investment funds industry, which has been ranked as the second most important market after the banking market. The net asset value of the investment funds is about 5% of GDP, the highest among the countries of South-Eastern Europe. Through the continuous support provided to the Authority, which is still going on, SECO is considered an important collaborator of AFSA in its mission to safeguard the stability of financial market and consumer protection,” pointed out Mr. Koci.
The Executive General Director, emphasized Authority’s willingness to ensure the application of experts’ recommendations and the sustainability of the project outcomes, even after the finalization of this project, while the Ambassador Furrer expressed support of the Swiss State Secretariat for Economic Affairs for the project initiated, on the strengthening of the supervisory capacities of AFSA and evaluated the role of the Authority in the supervision and regulation of the markets under supervision.
Mr. Furrer was also informed about the challenges that AFSA is currently facing, with regard to the markets supervision and Authority’s recent structural changes with the aim to raise the efficiency and the consumer protection, as well as the mission started by the Authority, with the establishment of the Advisory Committee, on the drafting of the 5-year strategy for the development of the markets and their supervision.
AFSA’s Executive General Director expressed his gratitude to the high-level representatives of SECO, for the assistance provided in regards to the current project “Strengthening Supervisory Capacities of AFSA: Focus on the Capital Market Development. Mr. Koci emphasized the importance of this project, not only for the Authority, but also for the investors and the country’s economy.
“The project financed by SECO, is particularly significant for the rapid development and high dynamic growth experienced by investment funds industry, which has been ranked as the second most important market after the banking market. The net asset value of the investment funds is about 5% of GDP, the highest among the countries of South-Eastern Europe. Through the continuous support provided to the Authority, which is still going on, SECO is considered an important collaborator of AFSA in its mission to safeguard the stability of financial market and consumer protection,” pointed out Mr. Koci.
The Executive General Director, emphasized Authority’s willingness to ensure the application of experts’ recommendations and the sustainability of the project outcomes, even after the finalization of this project, while the Ambassador Furrer expressed support of the Swiss State Secretariat for Economic Affairs for the project initiated, on the strengthening of the supervisory capacities of AFSA and evaluated the role of the Authority in the supervision and regulation of the markets under supervision.
Mr. Furrer was also informed about the challenges that AFSA is currently facing, with regard to the markets supervision and Authority’s recent structural changes with the aim to raise the efficiency and the consumer protection, as well as the mission started by the Authority, with the establishment of the Advisory Committee, on the drafting of the 5-year strategy for the development of the markets and their supervision.
