PRESS RELEASE
Bilateral Measure between BoA and Bank of Spain

The Phase II of the EU-funded Regional Programme for Strengthening the Capacity of the Central Banks in the Western Balkans aims to further strengthen the institutional capacities of the final beneficiary institutions, notably by enhancing their analytical and policy tools and by transferring the best international and European standards into national practices. In this regard, Bank of Albania (BoA) introduced its need to review Legal Services.  Bank of Spain (Banco de Espaňa) was offered to support BoA Legal department to better understand and define its role within the organization.

A study visit and one expert mission, took place in May and September 2023. They were led by three experts from the Bank of Albania participating in the meetings organized by Bank of Spain at its headquarters and three experts coming to Tirana form Bank of Spain for follow up meetings.

The primary goal of the missions was to share the experiences of both Legal Departments with regards to the composition and delivering of legal services in central banks. The focus of discussions were how both central banks structure their legal departments and organize their work, the challenges they face in delivering legal services as part of a central bank and how to best address them based on their experiences.

The knowledge gained from the cooperation with the experts of the Bank of Spain, who shared their knowledge, experience and established practices, was of great importance for Bank of Albania in the process of improving the tools and quality of legal services.