The role of the Bank of Albania in issuing currency notes

The Bank of Albania is the sole issuer of banknotes and coins of legal tender in Albania. The monetary unit of the Republic of Albania is " Lek".

Issue implies putting in circulation banknotes and coins of legal tender. Every banknote and coin has the issuing year printed in it.

In addition, the Bank of Albania is entitled to create the denomination, form, size, configuration and other features of all Albanian banknotes and coins, of legal tender, as well as banknotes and coins made for numismatics purposes.

Legal tender is not a means of payment that must be accepted by the parties to a transaction, but rather a legally defined means of payment that should not be refused by a creditor in satisfaction of a debt.

Banknotes and coins issued by the Bank of Albania not withdrawn from circulation shall be of legal tender and widely accepted for all payments of public and private charges at their face value.

The currency (banknotes and coins) meeting the three following criteria:

1. issued by the Bank of Albania;
2. not withdrawn from circulation;
3. of legal tender status;

can be used as a means of payment and shall be accepted for all payment charges that public and private persons or different entities make with each other.

The Bank of Albania designs the banknotes and coins schedule insuring that they are readily and securely available to the economy upon demand, the policy of withdrawal of old banknotes and coins from circulation, and their exchange with new issues. It sequestrates and confiscates the counterfeit banknotes and coins.