PRESS RELEASE
Open Forum "Collateral, Loans, market and Legislation"

In the context of constant banking system assessment and addressing of its concerns, the Bank of Albania, on 12 July 2011, organized a round table on: 'Collateral, loans, market and legislation', with the Albanian Association of Banks and other stakeholders in the banking system. This round table was also attended by Mr. Ridvan Bode, the Minister of Finance, Ms. Brikena Kasmi, Deputy Minister of Justice and representatives from the Supreme Court  and the private and public bailiff service.

Collateral execution was this round table's topic of discussion arising from a number of problems identified by the banking system regarding the execution of collateral for irrecoverable loans.

Although it is not directly involved in the execution of collateral, in order to convey this concern to all the participants in this round table and raise their awareness on the matter, the Bank of Albania undertook a number of analysis to identify shortcomings and assess the importance of collateral execution, with the ultimate goal to come up with an action plan, which would eventually lead to the problem's solution. Therefore, the Bank of Albania took the initiative to dedicate this forum to this essential topic.

The forum went beyond identifying the bottlenecks in the execution of collateral. In conclusion, the parties agreed to establish an inter-institutional working group to draft a detailed action plan for the solution of collateral execution-related problems.

The Bank of Albania, a promoter of macroprudence and financial stability, invites all institutions to pay maximum attention and commit to all legal initiatives or any other action that may be proposed on collateral execution.