Decisions by the Supervisory Council of the Bank of Albania, 7 December 2016

Publication date: 07.12.2016


On 7 December 2016, the Supervisory Council of the Bank of Albania reviewed and decided to:

  • Approve the Regulation "On coin minting/reminting and banknote printing/reprinting, and putting in circulation and withdrawal from circulation of the Albanian legal tender banknotes and coins"

The Regulation improves and amends the current regulatory framework for the printing and minting of the national currency, mainly with regard to setting out the procedures for the selection of themes featured in banknotes and coins, selection of their design, minting/reminting coins and printing/reprinting banknotes, as well as procedures for putting in circulation and withdrawal from circulation of the Albanian coins and banknotes.

  • Approve the annual budget for 2017 and the medium-term budget for 2017-2019

The approved budget for 2017 guarantees the realisation of the main functions of the Bank of Albania and ensures the normal continuation of the economic, financial and human activity of the institution. The current situation in international financial markets, the economic and financial developments in Albania, current and capital expenditure, which are indispensable for a good management of assets and human resources, have been taken into account in drafting this budget.

Based on the alignment of the budget-related regulatory framework with the domestic and international best practices, the Bank of Albania has drafted the annual (2017) budget, along with the medium-term (2018 - 2019) budget.

The budget for 2017-2019 aims to further perfect the monetary policy and operations framework, maintain and develop the technology infrastructure, strengthen the supervisory capacities of the Bank of Albania, further develop and enhance human resources, supply the economy with qualitative banknotes, carefully process the currency, as well as boost communication and transparency to the public. The budget is drafted in line with the Bank's departments and units' objectives, as stated in the Medium-Term Development Strategy and in the units' estimates on income and expenditures for 2018 - 2019.

The Supervisory Council was also informed on the daily functional and operational activities of the Bank of Albania .