NEWS

On September 3, a joint roundtable was held between the Information and Data Protection Commissioner Office, the Albanian Association of Banks (AAB), and second-tier banks, represented by their CEOs.

The meeting followed an extensive consultation process on the new Law No. 124/2024 “On the Protection of Personal Data,” approved in December 2024 and now in force. This law fully aligns Albania’s legal framework with that of the European Union, ensuring GDPR-equivalent standards for the protection of citizens’ personal data.

In his address, Commissioner Mr. Besnik Dervishi emphasized that the banking sector, as one of the largest data processors, plays a crucial role in the implementation of the law. He described the reform not merely as a technical adjustment, but as a new approach to data security and an important step in strengthening human rights in Albania.

The Chairman of AAB, Mr. Bledar Shella, underlined the legal, operational, technological, financial, and international challenges brought by the new law, as well as its impacts and benefits. He reaffirmed the banks’ active commitment to its implementation.

The discussions focused on the innovations and obligations introduced by the law, such as the protection of data in digital systems, avoiding excessive data collection, limiting retention periods, conducting periodic audits of banking apps, ensuring clear privacy policies, and regulating marketing practices.

A sensitive issue raised during the meeting was the request from certain public institutions for access to banking data in violation of the law. The banking sector called for stronger institutional harmonization to address such matters.

Banks expressed their readiness to play an active role in this process, considering the new law a priority closely connected with the digital transformation of the financial sector.