PRESS RELEASE
Decisions by the Supervisory Council, 24 January 2024

In its meeting of 24 January 2024, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Approve the Schedule for the meetings of the Supervisory Council

The Supervisory Council assessed its activity in 2023 and approved the schedule of its meetings for 2024. This schedule will be published on the website www.bankofalbania.org.

• Approve the ‘’The Bank of Albania’s financial education and financial inclusion strategy 2024-2026"

This strategy aims to ensure that Albanian households acquire the knowledge, master the skills, maintain their stances and develop the appropriate, right and applicable attitudes, which would enable them to make sound financial decisions, with the ultimate goal to improving their well-being and their financial sustainability. The document presents the main and strategic objectives on which the activity will be focused. In addition, it provides an overview of the framework for action, as well the 2024-2026 action plan for the implementation of this strategy.

• Approve the "Bank of Albania’s strategy for the minting of non-legal tender coins, commemorative coins and coins for numismatic purposes for 2024-2029"

The strategy of the Bank of Albania for the minting of non-legal tender, commemorative and numismatic coins for 2024-2029 defines the mission, vision, goals and guidelines for the minting of non-legal tender, commemorative coins for numismatic purposes at the Bank of Albania for 2024-2029.

• Approve the re-minting of the Albanian metal coins, 50 Lekë and 20 Lekë, legal tender

This Decision lays down the re-minting of the 50 Lekë and 20 Lekë coins, legal tender, in order to fulfil the cash demand of the economy, in value and structure, as well as ensuring their regular supply for an extended period of time.

• Approve the Regulation ''On the organisation and functioning of the Payment System Committee''

This Regulation aims at setting out the purpose of establishing the Payment System Committee at the Bank of Albania, by defining its composition and functions. The purpose for the establishment of such a Committee reflects the situation in which the institution is currently in, with a view to the developments in the field of payments. The Bank of Albania has undertaken a number of initiatives to reform payment systems and services both in terms of regulation and infrastructure. For several years, it has focused the attention on both increasing the security and efficiency of payment services, and supporting the infrastructural as well as the regulatory developments that will support these developments. This committee, of advisory nature, aims to support the Bank of Albania's decision-making related to these developments in order to efficiently meet these Bank of Albania's priorities. 

• Approve amendments in the standard contract for repurchase agreements (REPO)

The proposed amendments in the Standard contract that the Bank of Albania has with commercial banks, aim to regulate issues related to the treatment of securities used as a collateral, in cases of insolvency, past the deadline already defined in the contract, and in accordance with law 9974 /2008 "On the Repurchase agreement (REPO)".

The Supervisory Council was also informed on the daily functional and operational activities of the Bank of Albania.