Microfinance economic, social and cultural development

The present work sets itself as a first observational analysis of the regulation of non-banking financial institutions in Albania, considering the increasing development of the financial scenario started since 2000. This first analysis will lead the work towards an evaluation of the importance of microfinance, observed according to its different peculiarities. Subsequently we will come to analyze the effects that microfinance produces in the country; effects that will be declined according to three strands, certainly interconnected but observed in their intrinsic nature. Attention will therefore be paid to economic development in general, social development and, last but not least, the cultural development of the country. An analysis that will take into consideration the multiple aspects and intersection between these three elements of observation that are believed to have a strong influence on good and sound management of microfinance in a country. A consideration that stems from the potential that microfinance has in the social fabric of a large population and a small economy, and accentuated in a developing country like Albania. This part of the study, which we believe can be considered the heart of the work, will provide a good basis for planning a more accurate survey on the territory, in order to have a much more detailed and real picture of observation and to be able to use it for a valid and useful comparison with other realities (Italian and European). Finally, the purely financial aspects of the evaluations are not neglected from a mathematical point of view, in order to be able to count on quantitative aspects that give greater weight to the evaluations and the results obtained.