PRESS RELEASSE
Decisions by the Supervisory Council, 8 April 2020

On 8 April 2020, the Supervisory Council of the Bank of Albania held an on-line meeting to review certain special measures in the framework of the situation created by COVID-19 pandemic. In more concrete terms, the Supervisory Council reviewed and decided to:

• Approve the Decision "On the temporary monthly financial treatment of the Supervisory Council's members, Administrators and directors of the Bank of Albania, during the pandemic period caused by COVID-19”

This decision sets forth the reduction by 50% of the honorariums to the members of the Supervisory Council and the wages to the Bank of Albania's directors, throughout the period of coronavirus pandemic, in view of solidarity  with the citizens and enterprises affected by this situation.

• Approve the Decision "On the suspension of profit distribution of banks"

In accordance with this Decision, it is suspended, up to the end of June 2020,  the distribution  by banks of: the allocated profit from the previous periods; the realized profit in 2019; and the profit to be realised during the first half of 2020.

This measure taken by the Supervisory Council, aims at ensuring support to banks, mainly through the increase of their capacity to absorb the potential losses, and keep up lending to households and enterprises, during this period.

• Approve the Decision "On removing commissions applied by banks on the non-paper based credit transfers in ALL, from their clients, and the fees charged to participants in AIPS and AECH systems operated by the Bank of Albania", starting from 10 April 2020

The purpose of this Decision is to support clients of banks to continue to perform their payments under the time limits placed on the movement and to minimise the risks that arise from the gathering of persons at banks' branches. In more concrete terms, this Decision aims to make more attractive the Home banking services through the elimination of these services costs.  

At the same time, in accordance with this Decision, the Bank of Albania eliminates the commissions applied to banks on the use of the payment systems operated by the Bank of Albania, with the aim at balancing their costs.

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