A Corporate Governance Code has been prepared from experts of IFC in cooperation with experts of Ministry of Economy based in the best international practices. Still companies in Albania are not aware enough about the importance of such code.
There is still too much work to do from arising the awareness of businesses regarding the importance of corporate governance practices and the implementation of it. The country lacks a functioning stock exchange and an authority that can act as champion for the promotion of corporate governance principles.
The banking sector in Albania is well developed and banks can be in a position to be promoting good corporate governance. Additionally further improvement remains to be done to the corporate governance framework especially in ensuring that provisions in the commercial legislation are well understood and implemented.