2024
As part of Integrity Week, organized by the International Chamber of Commerce in Albania (ICC Albania), the Albanian Association of Banks (AAB), a member of ICC, hosted a roundtable on December 12, 2024, under the theme: “The role of internal audit in promoting integrity in the banking sector”. Integrity Week, dedicated to raising awareness about the importance of ethics, transparency, and accountability in both public and private sectors, provides a platform to promote the values of integrity and foster collaboration between institutions and the business sector.
The roundtable brought together representatives from the Bank of Albania, ICC Albania, and AAB’s Internal Audit Committee, focusing on the importance of transparency, compliance, and trust in the banking sector, as well as promoting ethics and corporate culture.
The agenda included presentations on new global ethical standards and the role of internal audit in strengthening accountability and integrity within the sector. Open discussions and testimonies from banks provided concrete examples of best practices and current challenges. Discussions also addressed policies against fraud and corruption, as well as internal whistleblowing systems as essential mechanisms for managing ethics and preventing irregularities.
The key conclusions of the roundtable included:
• Reviewing the regulatory framework, with a focus on consumer protection, transparency, and the enhancing results in the implementation of the basic accounts law.
• Continuing similar roundtable discussions to strengthen relationships between regulators and the banking industry.
• Increasing collaboration to raise awareness and advance ethics in the banking sector.
The roundtable was welcomed as an important step in fostering inter-institutional collaboration and reinforcing best practices in internal auditing and compliance.
On November 14, 2024, the Albanian Association of Banks (AAB), in collaboration with the Deposit Insurance Agency, organized an awareness meeting focusing on the importance of cybersecurity for the Albanian banking system. The event was attended by representatives from the Bank of Albania and AAB member banks.
The primary objective of the meeting was to address shared challenges in identifying and mitigating risks posed by cyber threats, aiming to protect data and maintain public trust in the financial system. Discussions emphasized the importance of collaboration among key stakeholders to strengthen protective mechanisms against cyberattacks.
Participants had the opportunity to hear from the keynote speaker, Mr. Khalid Simaan, a cybersecurity expert from the U.S. Department of the Treasury. He provided a comprehensive overview of cybersecurity challenges and threats, international regulatory standards, and best practices to address them. During the meeting, the key role of cooperation between the Bank of Albania, the Deposit Insurance Agency, and member banks of the deposit insurance scheme was also highlighted to enhance information security.
The AAB considers this meeting an important step toward raising awareness and strengthening capacities to tackle cybersecurity challenges, thereby contributing to a safer and more resilient financial system.
The Albanian Association of Banks (AAB), in cooperation with the Kosovo Banking Association (KBA), organized a discussion table on October 17, 2024, focusing on recent developments in digital banking and payment systems in the region. This event is part of joint initiatives aimed at improving digital infrastructure and enhancing financial inclusion. The gathering brought together experts and senior representatives from the banking sector and the Bank of Albania to discuss the implementation of Open Banking and the SEPA process.
The meeting opened with welcoming remarks from representatives of both AAB and KBA, who emphasized the significance of regional cooperation for the development and integration of payment systems. The discussions were structured into two sessions.
In the first session, participants were briefed on the legal and regulatory implementation of Open Banking in Albania, with a presentation by Mr. Deniz Deralla, Director of the Supervision Department at the Bank of Albania. Following this, Mrs. Irida Huta, Chairperson of the AAB Digitalization, Payments, and Alternative Channels Committee, shared insights into the practical challenges and experiences of Open Banking. She highlighted the crucial need to educate clients about this evolving process. Ms. Akile Cernobregu, Chairperson of the Payments Committee at the Kosovo Banking Association, also addressed the participants, providing an overview of the project’s current status in Kosovo.
The second session focused on SEPA and instant payments. Ms. Ledia Bregu, Director of the Payment Systems, Accounting, and Finance Department at the Bank of Albania, presented the progress made and future goals for SEPA implementation. The discussions highlighted the importance of SEPA in rationalization and accelerating interbank transactions across the region.
In conclusion, the participants agreed on the need to continue these collaborative efforts to foster experience sharing and enhance efficiency in regional payment systems.
3 July 2024 – The Albanian Association of Banks (AAB), in collaboration with the German Sparkassenstiftung for International Cooperation (DISK) Albania, organized a workshop titled “ESG Risk Radar: A Climate Risk Management Tool for Banks.” The event saw the participation of representatives from nine banks, who discussed the latest tools and strategies in climate risk management.
Mrs. Violeta Haxhillazi, an expert trained by the German Sparkassenstiftung, led the workshop, sharing her knowledge on the importance of utilizing the Risk Radar and Green Finance Compass tools. She emphasized their practicality and effectiveness in managing climate risks, providing participants with insights into integrating these tools into their risk management practices.
This workshop also marked the first anniversary of the approval of the Bank of Albania’s Green Strategy. In this context, Mrs. Margerita Topalli, Senior Economist, Research Department, from the Bank of Albania, informed participants of the progress in implementing the green strategy, highlighting key updates, learnings, and future steps. She emphasized the importance of aligning financial policies with environmental objectives to achieve long-term sustainable economic growth and ensure financial stability in the face of climate risks.
Participants agreed that further training sessions, workshops, and roundtables should be organized to address additional topics to green finance.
AAB and DISK Albania are committed to promoting sustainable finance and equipping banks with the necessary tools and knowledge to address the challenges of climate risk management.
On January 23, 2024, the Albanian Association of Banks (AAB) organized an informative seminar focusing on the European Payments Market. The event featured insights from Capsys Informatics regarding Hungary’s distinctive position as the sole European country offering universal instant payment services.
The AAB Secretary General, Mr. Spiro Brumbulli of AAB welcomed participants, emphasizing the project’s significance in implementing instant payments as a cost-effective alternative to current methods. This seminar marked the start of the instant payments project journey, a two-year priority for the Bank of Albania.
Representatives from Capsys Informatics shared their expertise on instant payment service implementation and introduced Hungary’s unique approach. They also highlighted innovations such as the IP 1.0 project, the Capsys R&D project, payment scenarios, transmission technologies, and the Capsys Smart Payment Solution with unified data entry. The presentation included details on the IP 2.0 project, covering regulatory elements, payment flow, exchange scheme, chargeback, and fraud management in an immediate environment. The session concluded with an interactive question and answer session involving participants.
