Payment Systems

 The Bank of Albania has a major role and commitment in developing the national payment system, particularly because of its strong interest in financial stability, its concern to ensure the proper functioning of the banking and financial system, and its principal function to implement the country’s monetary policy.
Promoting and guaranteeing the effective operation of the national payment systems is a principal task of the Bank of Albania. In this regard, the Bank of Albania is engaged in three roles:

• operational role

The Bank of Albania provides the infrastructure for the settlement of payments; it administers and operates a large value payments system in domestic currency (AIPS - Albanian Interbank Payment Systems), an automated clearing system for the netting and clearing of payments (credit transfers and direct debits) in domestic currency (AECH - Albanian Electronic Clearing House);

• oversight activities

The Bank of Albania sets rules and procedures, as well as standards with a view to promoting sound and efficient systems for processing transactions in the domestic currency;

• a catalyst

The Bank of Albania promotes efficiency in the use of payment systems and payment instruments.

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