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Albanian Securities Exchange (ALSE)

posted onOctober 23, 2018

The first stock exchange in the financial history of Albania was the Tirana Stock Exchange (TSE) opened in 1996 as a department of the Albanian Central Bank. 

TSE’s core activity included the primary and secondary market for short-term government debt securities (treasury bills). The TSE remained part of the central bank until it was spun off as an independent entity in 2002. However, for various reasons the TSE never gained the trust of local businesses,  remaining just a legal concept. Hence, in April 2015, the Albanian Financial Supervisory Authority (AFSA) decided to suspend its licence in accordance with the shareholders’ decision. 

ALSE, the first privately-owned stock exchange in the country, was brought into being in 2014 by a team of financial market professionals as an ambitious project with the support of Credins Bank with the aim of creating an electronic trading platform that would match the supply and demand for securities in Albania.  In 2016, two other financial institutions namely AK Invest and the American Investment Bank joined the initiative. 

On July 6, 2017, The Governing Board of the AFSA licensed the ALSE. The AFSA Board’s decision came after an evaluation in accordance with the requirements of the legislation of all documentation related to the field of activity, capital, the governing bodies of the company, the infrastructure and the technological systems necessary for the realisation of it’s activity. 

Official trading for Government securities (T-Bills and T-Bonds) on ALSE, has started for the first time on February 2018. 

The establishment of the ALSE filled the lack of a functional market (stock exchange), where Albanian companies can secure important funding as an alternative capital to bank financing.

ALSE also offers a measurement or assessment of corporate performance, extending a financial market for the general public to invest in securities.

alse ceo

Key people:
Artan Gjergji  (CEO and Executive Director)
Mr Gjergji serves as CEO and Executive Director of the Albanian Securities Exchange since 2017. He has had considerable experience with important financial institutions such as: Bank of Albania, Tirana Stock Exchange (which , and Albanian Financial Supervisory Authority. Additionally, for a while he has worked as the Director of Business Groups and then, Chief of Cabinet at the Tirana Chamber of Commerce & Industry.

Phone: +355 4 2243808 
Email:  info[at] 
Address: Rr. Nikolla Tupe, Nr. 1, Kat 3, Ap. 3, Tiranë, Albania 

(Last updated on 03/06/2019)