BANK OF ALBANIA
PRESS RELEASE

The Supervisory Council of the Bank of Albania was informed on the arrest by the State Police of the Governor, Mr. Ardian Fullani and Inspector General Ms. Elivar Golemi. A subsequent statement by the Prosecutor's Office presented the charges that motivated their arrest.

After these developments, the Supervisory Council of the Bank of Albania convened and was informed in more detail about the situation. Following, the Supervisory Council:

a)    Decided to propose to the Assembly of the Republic of Albania the dismissal of the Governor of the Bank of Albania, Mr. Ardian Fullani, in accordance with Article 47, paragraph 2, 'c' of the law 'On the Bank of Albania';

b)    Concluded that the absence of the Governor does not create an institutional vacuum in the management of the institution, under the conditions when legal and sublegal provisions stipulate and enable unequivocally the transfer of competences to the First Deputy Governor;

c)    Affirmed its full support to the First Deputy Governor in assuming the competences for the executive management of the Bank and welcomed the measures taken by her to ensure a normal continuation of the institution's operational activity.

The Supervisory Council assures the public and the authorities that it is exercising its functions with the highest responsibility. In this regard, the Bank of Albania will continue to offer its full cooperation to the Assembly of the Republic of Albania and law enforcement bodies, transparently and professionally, with the aim to see the event solved and the responsibilities determined for all the persons under investigation. The Supervisory Council deems that thanks to the measures that have been and will be taken for improving the functioning of the Bank of Albania and to the professionalism of its personnel, this institution will be restored to its position as a symbol of pride for the Albanian state and society.