Jet Bank refutes suspicions: Licensing was done transparently, under the verification of authorities

Jet Bank has reacted after doubts about the manner in which the institution was licensed by the Bank of Albania.

Jet Bank has denied the allegations, stressing that it operates in full compliance with the legal and regulatory framework in Albania. The bank underlines that the licensing process was carried out by the relevant authorities and according to the required standards.

It also adds that it remains committed to transparency and financial stability, emphasizing that any claim that questions its integrity is unfounded.

Jet Bank also clarifies that Oliver Hemmer's involvement has been limited only to the technical phase of the company's registration prior to regulatory approvals, emphasizing that he has never had a decision-making role, operational control or executive functions in the bank's activity and has not and will not have any role in its governance.

JET BANK'S REACTION:

We are aware that building a new, innovative banking institution in a saturated and consolidated market comes with expected challenges.

However, it was not expected that this process would include politically influenced narratives, which do not serve the development of the financial sector and damage Albania's image as a country aiming to modernize its banking system.

We would like to clarify to the Albanian public the recent public statements regarding the licensing process of Jet Bank and its shareholder structure.

Jet Bank is a banking institution licensed and supervised by the Bank of Albania and operates in full compliance with the Albanian legal framework and international regulatory standards for the banking sector. The licensing process was conducted in a transparent manner and under the full verification of the competent authorities.

Claims of "systemic risk" or alleged links to publicly mentioned unlicensed structures or schemes have no documentary or factual basis.  

With regard to Mr. Oliver Hemmer, we clarify that his involvement was limited only to the technical phase of the company registration process and prior to obtaining regulatory approvals. He has never had a decision-making role, operational control or executive functions in the banking activity and has not and will not have any role in the future governance of the bank. In this context, any claim about illegal activities of Mr. Hemmer, except for being untrue, is not related to the activity of Jet Bank or its shareholders.

Jet Bank's ownership structure is documented, verified and approved in accordance with applicable legal and regulatory requirements. Any insinuation of a lack of transparency or integrity contradicts the facts confirmed during the licensing process. Jet Bank is in the final stages of building a full governance structure, in line with European Union requirements and the Albanian regulatory framework, including the establishment of a Board of Directors with executive and independent members.

Jet Bank is taking all necessary actions to report these defamatory statements to the relevant legal authorities and reserves all rights to legally pursue any publication containing false, misleading or defamatory information, in accordance with applicable law. 

The institution remains fully committed to transparent communications with everyone and unintimidated by the existing culture of resisting any new and innovative initiative for the Albanian market.

 

 

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