On July 6, 2017, The Governing Board for the Financial Supervisory Authority (FSA) of Albania licensed the Albanian Securities Exchange (ALSE), which is the first privately-owned stock exchange in the country. The ALSE, a joint stock company, comes as a private entrepreneur initiative with three founding shareholders: Credins Bank with 42.5% ownership, American Bank of Investments with 42.5% ownership and AK Invest with 15% ownership. In addition to providing education on the capital market, the ALSE will promote local companies in need of capital as well as establish a platform to trade publice and government securities.
The establishment of the ALSE, also recognized as Bursa Shqiptare e Titujve, provides Albanian companies an efficient alternative to bank financing in securing important funding, with a view toward financing long-term projects for their business development. It also offers a measurement or assessment of corporate performance, extending a financial market for the general public to invest in securities.
The ALSE is expected to begin its trading operations in October 2017.
The first stock exchange in the financial history of Albania was the Tirana Stock Exchange (TSE) or Bursa Tiranes. Established May 2, 1996, it was created by the Bank of Albania with the aim to spin off after a transitional period of several years. The initial trading activity included Treasury Bills with 12 month maturities, 5 series of government bonds and privatization vouchers. Trading sessions were initially held twice a week, every Monday and Thursday. By October 1997, the sessions began to be held every business day and the trading of 3 and 6 month maturity Treasury Bills was added to the available security offerings.
The TSE remained part of the central bank until it was spun off as an independent entity in 2002. It is no longer in operation, closing in 2014, although the Bank of Albania had discussions on resurrecting the exchange in 2015.