Lack of stock market
25/09/2013 00:00
Experts condemn the destruction of the Prespa e Vogël lake by burning of the reeds 16/11 21:14
Elvin Meka, the first director of the Tirana Stock Market, says that the
capital market in Albania failed due to the lack of good will from
governments.
“Some key factors have kept the stock market outside their attention, such as many other problems that the business faces, mainly due to transparency issues”, Meka declared.
The lack of a stock market has made the banking system be the only form of business funding. Mr.Meka thinks that this has increased economic dangers.
“A total lack of capital markets, all dangers that Albanian businesses face are accumulated in the financial system”, Meka underlines.
The regional countries have undertaken a series of policies to encourage stock markets. Montenegro used the public property privatization, with state enterprises not being privatized in tenders but sold to citizens through a stock market.
This opportunity does not exist anymore in Albania, but experts think that the state still has the means to re-establish the stock market, and one of the suggestions is the Macedonian model.
“For taking a given quantity of capital, a shareholding company has the legal obligation to be registered in the stock market. This gives stability and transparency”, Meka underlined.
Albania is the only country in the region that doesn’t have a functional stock market, although this institution has formally opened 20 years ago.
Top Channel
