A working-group meeting is taking place in Tirana to discuss the risk based approach to supervision with Supervisory authorities such as the Central Bank of Albania, Albanian Financial Supervision Authority, the General Directorate for the Prevention of Money Laundering and Banks.The meetings aimed to discuss the practical challenges that the private sector and the authorities face to address the recommendations of the National Risk Assessment. Participants highlighted the importance of providing support to the private sector regarding the requirements of supervisory authorities and the need to raise their awareness to adopt a risk based mentality. Following the event the Council of Europe expert will prepare guidelines on risk based approach to supervision taking into account international standards and good practices for the supervisory authorities and the private sector in Albania with the aim of increasing the awareness and understanding of risk based approach to supervision.