PRESS RELEASE
Governor Cani meets with representatives of the Euromoney Company

Today afternoon the Bank of Albania Governor, Mr. Shkelqim Cani met Mr. Richard Ensor, Managing Director and Mr. Martin Born, Director of Publications at "Euromoney" company, a well-known authority in the area of forecasting international banking developments and capital market.

In his speech, the Governor made a synthetic presentation of the main highlights of economy in general and of Albanian banking system in particular over 2003 and the forecasts on the current year.

"The Savings Bank's privatization from Raiffeisen Bank was a succesful process for Albanian banking system and for encouraging strategic foreign investments in Albania" stated Mr. Cani.

"Currently", stated the Governor, "after the definitive licensing of a domestic capital bank, the banking system records 16 banks and is the most reformed and consolidated sector in the country's economy, according to assessments by international financial institutions, such as IMF, EBRD, etc. However, the Bank of Albania continues to encourage the banking activity extension, the reduction of banking transaction cost and the increase of types of services provided by banks".

"Meanwhile", went on the Governor, "the Bank of Albania will be re-included, in cooperation with other institutions, in a campaign on promoting banking payments and replacing cash operations, thus assisting in the banking system development and in the formal economy in general.

Euro Money representatives invited the Bank of Albania Governor to participate in the regional conference on Southeastern Europe titled "Conference on Regional Finances and Investments", which will be held in Dubrovnik of Croatia on October 26-27, 2004.

In this conference, important government representatives, central bank governors, famous representatives of business community, of the banking and financial system of the region, will discuss during two days on financial developments and regional investments.

At the end of the meeting, the Governor evaluated the role of Euromoney in the process of publishing financial development reports, in forecasting international banking trend, capital markets and in assessing risk level of developing countries.

Mr. Cani expressed the willingness of the institution he governs to further enhance the cooperation, aiming at a better marketing of Albanian economy in the regional and global capital markets, so as to attract potential foreign investments.