Established as Legal Entity in February 2016 by the former Central Bank Governor Mr. Ilir HOTI, IFIBI is Albania’s first Institute offering trainings on Financial Products, Consultancy dedicated to the mission of Financial Education of Albanians to impact the increase of living standards of the population by using wiser the opportunities offered by Financial Products.
IFIBI possess License No: LN – 1015-02-2016 date 16/02/2016 as certified entity to offer Professional and qualification trainings on:
- Financial Products Knowledge; Insurance and Banking
- Consultancy on: Underwriting Insurance, Loss Adjusting, Strategic positioning of Companies/Products, Upgrade and/or build policies, procedures and processes, Researches and surveys.
- Personal Development: Management skills, Leadership and Communication, Sales Skills
IFIBI has aimed to fill the gap of lack on financial knowledge either at education system in Albania (including all the layers of education system; elementary, high school and universities) or at potential staff for Financial Companies (Banks, Non -bank Financial Institutions, Insurance Companies).
IFIBI has undertaken research, policy analysis, and advocacy in support of Designing, Developing, Implementing, and continuously improving regulatory and legislation frame on Insurance market in cooperation with all stakeholders and interested parties.
IFIBI’s Philosophy is to build bridges between policymakers, businesses and public to foster the financial knowledge at Universities, Insurance Agents, Bankers, and all Financial Intermediaries.
In order to accomplish its mission, IFIBI has established extensive presence in all potential fields and areas of knowledge delivery exposure. The ways of establishing this presence applied by IFIBI are numerous and include; Publishing of various articles and books on Insurance and Risk Mitigators author Ilir Hoti, Introduce and actually present at University Academic Curricula (Economic Faculties), Licensed entity from Financial Supervisory Authority (AMF) to deliver certified trainings on professional qualification for Insurance Intermediaries and trainings for Insurance companies staff, present at round tables as stakeholder on discussions related to Regulations and Laws on Insurance area, personal exchange of views, discussions, co-operation in research and other activities and attending conferences, etc.
IFIBI objectives are:
To promote the importance of Financial Education at all levels of population
To cooperate with all stakeholders on implementing financial education manners to increase knowledge and create a positive financial impact in the market.
To establish the ground for a better understanding from the public of Financial products and Risk mitigators of their finances in order to create room for a better healthy secure living standard specifically from upper low and medium social class of the country
To create a trustful Institute standing for accuracy, professionalism, problem analysis capability, surveys and case studies, research, and expert-wise opinion on Financial area including Financial Education.
Today IFIBI’s work is focused mainly on contributing at Financial Education of population, in cooperation with Government (Ministry of Education, Ministry of Finance and Economy; Ministry of Transport and Infrastructure) and Regulatory Body (Financial Supervisory Authority) and supporting Financial entities to build Risk Mitigators for their businesses and/or personal financials.
IFIBI’s activity includes:
Financial Education on Financial products specifically Bancassurance products
Certification of Insurance Agents on Professional qualification on Insurance
Consultancy on risk mitigators for Banks and Non-Banks Financial Institutions
Loss adjuster services to Banks and Insurance Companies
Policies, Regulations’ impact monitoring and exchange feedback with the policy maker (AMF)
Innovation on policy making to improve financial education of the population at all levels
1.1.1. Sector Orientation
IFIBI has a consolidated experience with Financial Education and professional Consultancy support to a wide range of stakeholders, as below:
Non-Banks Financial Institutions
International Insurance Brokers
1.1.2. Range of Services provided by IFIBI
IFIBI offers its clients a broad range of products and services. IFIBI’s know-how and practical experience, focuses on the field of Financial Education, Trainings and preparing comprehensive and updated financial training programs, Advisory and Consultancy services on Risk Mitigators (Financial, Operational and Strategical) and Underwriting processes, Loss adjuster services and support to International Insurance Intermediaries, Building capacities on Management, Sales and Leadership, Assisting on Hiring processes specifically on Financial Entities.
We aspire to address the most challenging problems, deploying integrative and multi-disciplinary skills across the full cycle, ranging from problem identification, screening the situation and business environment, introducing solutions to address the issues while aiming the goal and/or scope of the business, implementation, monitoring, and evaluation of the outcomes.
We have a strong basis in financial area including consultancy and human resources building capacities at all career phases and layers of the company organizational chart. The list of services has been enriched throughout the years from the qualities and background of individuals’ part of IFIBI and from its general increased know-how. Our ambition is to further improve our competencies and to develop IFIBI into an all-round knowledge-, expertise- and research-based consultancy group along with our past experiences.