Meeting of Governor Sejko with banking sector to discuss on “The role of the banking industry in the future development of Albania”

05/06/2019

On 29 May 2019, at the Bank of Albania premises was organized a meeting on: “The role of the banking industry in the future development of Albania”. The meeting, organized upon the initiative and chaired by the Governor of the Bank of Albania, Mr. Gent Sejko, was attended by senior officials from the Bank of Albania, executives of commercial banks (CEOs and deputies), and representatives from the International Monetary Fund and World Bank Group.

During his address, Governor Sejko stated that this meeting is aimed to come up with a concrete plan of measures to improve the quantity and quality of lending and broaden the range of financial products. He stated that the banking sector has an essential role to play in providing payment services to the economy. In this vein, to improve the retail payment market, the Bank of Albania has finalized the draft law on “Payment services”. The approval of this draft-law would provide the preconditions for promoting innovative technological solutions, and introducing more efficient and less-costly instruments, which foster competition in the market, and ensure transparency and overall consumer protection.

In his address, the Chairman of the Albanian Association of Banks, Mr. Silvio Pedrazzi stated that the banking system appears stable and liquid, a precondition for qualitative lending to the economy.  Mr Pedrazzi. urged enterprises to present new projects for financing, which generate employment growth in economy. Concluding, he affirmed the commitment of the banking sector to contribute to the further development of economy in Albania.

The meeting continued with two specific presentations on:” What can be done more to increase lending and how”; and “Modernizing the payment systems”. The participants discussed actively on the presented topics and issues that came forth during the presentations.

Upon conclusion, participants assessed the meeting and discussions as fruitful, and affirmed their commitment to take this joint effort further, by working together on drafting a set of measures based on the conclusions achieved in this meeting.

Governor Sejko address

AAB Chairman address