Bank of Albania meets and discusses with the Albanian Association of Banks

On 29 June 2021, the Bank of Albania (BoA) and the Supervisory Board of the Albanian Association of Banks (AAB) had a discussion meeting at the premises of the Bank of Albania. The meeting was organised upon the initiative and was chaired by the Governor of the Bank of Albania, Mr Gent Sejko. The First Deputy Governor, Mrs Luljeta Minxhozi, the Second Deputy Governor, Mrs Natasha Ahmetaj, and other senior officials from the Bank of Albania, the Chairman of AAB’s Supervisory Board and CEO of OTP Bank, Albania, Mr Bledar Shella, other members of this Board, and Mr Spiro Brumbulli, Secretary General of AAB participated in this meeting.

The main purpose of this meeting was the intensification of the dialogue and collaboration between the Bank of Albania, the Albanian Association of Banks and commercial banks that conduct their activity in Albania, on issues related in particular to developments in the financial and banking system during the situation created by the COVID-19 pandemic. 

The Governor commended the banking system for the appropriate response against the pandemic shock, which continued its activity of financing enterprises and households without any interruption. He emphasised that during the pandemic, banks have shown maximum commitment and goodwill to contribute in creating facilities related to the measures undertaken by the Bank of Albania and the Albanian Government, and they have played an active role in overcoming the situation completely. 

Furthermore, the participants concurred that the banking system in Albania remains solid, and with good financial soundness indicators, and stands ready to provide all the necessary contribution to the economic recovery.

They also discussed about increasing joint efforts and institutional cooperation, in the framework of boosting credit to the economy, by identifying potential investments with a view to recover economic activity and enhance banks’ contribution in Albania.

Then, the meeting was focused on the continuous initiative undertaken by the Bank of Albania to further develop the financial market and increase transparency to protect public interests, by improving the regulatory framework of the banking industry, which focuses on lending and transparency of products and services provided by the banking and financial system. The ongoing bilateral consultation has always been positive and oriented toward enhancing best practices.

The discussions addressed the further modernisation of the payment system, which plays a very important role in both the education and financial inclusion of the people as well as the further increase of formalisation of the economy, serving simultaneously as an additional measure towards the prevention of money laundering.

In conclusion, the Albanian Association of Banks thanked the Bank of Albania on this positive and productive meeting, by particularly welcoming the support provided to the banking system during this challenging period. Participants expressed their full commitment to continue the mutual institutional cooperation and with central and local authorities, for an ever-more sound banking system that supports the economic development of Albania.