29 Dec Suitability of Credins Invest activity and the license for the administration of Alternative Investment Funds
On December 29, 2020, the Board of the Financial Supervision Authority, reviewed and decided the approval of the adequacy of the activity of the management company “Credins Invest” sh.a., with Decision no. 206, with the requirements of law 56/2020 “On Collective Investment Enterprises”, and bylaws issued in its implementation. Based on the request of the company for expansion of its activity, it was approved by the Financial Supervision Authority with Decision no. 207, dated 29.12.2020, the licensing of Credins Invest as a management company of Alternative Investment Funds, offered only to professional and qualified clients.
The new law on collective investment undertaking, which entered into force on April 2020, created the legal basis for alternative investment funds. Licensing/registration of alternative investment funds constitutes a further diversification of the financial market in Albania, creating opportunities for new investment alternatives only for professional and qualified investors.
The management company “Credins Invest” sh.a. object of activity is the:
- Administration of Collective Investment Enterprises with public offering;
- Administration of Alternative Investment Funds only for professional and qualified clients;
- Administration of Voluntary Pension Funds.
December 29, 2020