After repeatedly postponing the eurobond project due to the financial crisis, Albania has finally entered the international capital markets by issuing its first eurobond, valued at €300 million. Although the sales will determine the success of the eurobond, the issue is a major step forward in the economic development of Albania and its integration into the European Union.
Almost two and a half years after its entry into force, the scope of the Law on Securities remains uncertain and the Albanian Financial Supervisory Authority has not yet approved the secondary legislation on the operation of the securities market. The main issues concerning the Law on Securities stem from the uncertainty regarding its field of application.
Parliament recently approved the Law on Collective Investment Undertakings. The law represents an important step in the creation of a sustainable and secure capital markets sector in Albania and addresses the increasing need for long-term capital markets investment.