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Non-Banking Credit Institutions in Albania
MAUNTAIN AREAS FINANCING FUND (MAFF)
Mountain Areas Financing Fund is a non-banking financial institution that offers loans for the mountain areas.
Mountain Areas Financing Fund offers a big possibility of investment for individuals and SME-te (Small and Medium Enterprises).
MAFF is established with the Decision of the Council of Ministers (no. 560 dated 02/12/99).
MAFF is a legal entity registered near the Tirana Court (no. 933 dated 07/04/00).
Subject of the Albanian Legislation.
Licensed from the Albanian National Bank as a non-banking institution on the 29/03/02.
Mission
Implementation of the Program of the Government of Albania for the economic development and the poverty reduction in the mountain Areas, offering financial services for them.
Mid-term Mission
MAFF with its financial services in the mountain areas aims to offer sustainable relations between markets and manufacturers.
The new vision
MAFF aims to be an financial institution for the mountain areas of Albania,
offering a number of products and financial services that provide sufficient incomes for the institution and acceptable costs for clients , the inhabitants of the mountain areas, as well as the entrepreneurs (for the agricultural and non agricultural enterprises).
Donnors of MAFF
Albanian government
IFAD
DFID
Field of activity
MAFF has 16 branches that cover 18 localities of Albania:
Nowdays it offers services in more than 500 villages (May 2004).
Actually has 4280 clients with a loan portofolio 837.021.326 leks (May
2004).
Products and services
The product offered till now is loan for:
groups – microcredits up to 150.000 leks
individuals – microcredits up to 150.000 / 200.000 leks
SME – maximal amount up to 20.000.000 Leks
The necessary documentation to take a loan is different according to the type of loan and the legal status of the borrower.
Applied interest
For loans up to 3 years, applied interest is 15 % during a year.
For loans from 3 to 5 years applied interest is 17% during a year.
For loans over 5 years the applied interest is 19% during a year.
Combing of Credit is done with cheque or payment order.
Life and object insurance is needed .
An application commission is paid
Terms for the loans of the villages
Maximum amount up to 150.000 Leks
Repayment period
3-5 vjet
With 1 to 3 mounths instalments
Guarantees and Collateral
a..Pledge Contract
b.. Mortgage Contract
c.. Guarantee
d.. Noterized Agreement
e.. Ownership Documents for the land or houses
Terms for individual loans
Maximum amount up to 150.000Leks
Clients that have payed the first loan in a regularly way can take a new one up to 200 000 leks.
Repayment periods
The maximum period will be up to 3 years.
the instalments are from 1 mounth to 3 mounths
Guarantees and Collateral
a.. Pledge contract
b.. Mortgage contract
c.. Guarantee
d.. Noterized agreement
e.. Ownership documents for the land or the house
Conditions to the loans offered to SME
Maximum amount up to 20.000.000 Leks
Repayment period
Short-term loan, for floating capital up to 1 year with monthly payments
Mid-term loan up to 7 years with 1 to 3 mounthly instalments
It is offered a non-payable period for principal, according to the kind of activity.
Garantees and collateral
a.. Mortgage-immovable property
b.. Guarantees
the amount of collateral should be 150-200% of the loan amount.
the client participation should be no less than 30% of the investment.
WHAT IS THE INTERNATIONAL FUND FOR AGRICULTURAL DEVELOPMENT, IFAD?
International Fund for Agricultural Development (IFAD) is established in the 1977 in order to help and support the countries in the struggle against the rural poverty.
What is the DFID?
Department for International Development of the United Kingdom of Great Britain and the North Ireland that through a special program supports our institutions with the technical assistance for 3.5 years.
PURPOSE
MAFF functions as an financial institution for the loan program administration. It aims to offer loans mainly for the :
Village Companies.
Small merchants of agriculture and livestosk
Small groups of producers
Investments in agriculture and livestock
All activities that stimulate the employment and the economic growth in the mounain areas.
The extent
The loan activity ihas begun forn the first time in 1994, in Dibra.
In 1995 the loan activity was extented also in Kukes.
In 1996 the project included the regions of Has, Tropoja and Puka.
In 2001 the activity was introduced in Mirdita, Mat and Bulqiza.
In 2002 the activity was introduced also in Korca, Pogradec, Berat and Permet.
In 2003 the activity was extended in Tepelena, Skrapar, Librazhd and Kolonja.
Peshkopi
Kukes
Has
Tropoja
Puka
Mirdita
Bulqiza
Mat
Pogradec
Korca
Permet
Berat
Banking System in Albania 
