“Seen in a macro-economic point of view, the creation of a stock exchange is a clear sign of the level of maturity that the Albanian financial market has achieved”, OFA experts say, admitting that this market has not had such maturity as the country has previously had a stock exchange for years. Let us recall that Tirana’s Stock Exchange, which was funded by the state, closed in December 2014, as no company was listed in this stock exchange.
But, according to OFA, things have changed three years later and the Albanian financial market may be ready for a real stock exchange, in which companies are able to invest their capital. This way, this will put an end to the informality that has existed so far on the true value of companies and the transactions that they make. Although Albanian businesses were given a chance to do this for years, this sector refused it by causing the stock exchange to go bust. With this, the business sector refused to show its true potential in front of domestic and foreign markets. But now it seems ready to do this, as it was this sector that has requested the creation of a stock exchange and the state has approved it.
Turkey too offers its assistance
Istanbul Stock Exchange which is considered as the most developed and the most liquid one in the Balkans, has expressed its interest to assist Tirana Stock Exchange for years. But it seems that even the experience offered by it could not convince Albanian companies to be listed there. Albania not only has the opportunity to have a capital market, but it should have had it long time ago. The economy and the business sector cannot be developed only through the banking sector. By having a stock exchange, Albania will be able to attract more foreign investors”, the president of this stock exchange, Ibrahim Turhan said.
