PRESS RELEASE
First Deputy Governor Ms Luljeta Minxhozi attends the roundtable on capital markets

On 26 May 2023, the Financial Supervisory Authority (FSA), the Ministry of Finance and Economy, and banks held a roundtable on the development of capital markets in Albania.

This discussion table was organised by the Albanian Financial Supervisory Authority, after the Council of Ministers approved the Political Document “On the creation of an environment that allows for the development of capital markets in Albania, 2023-2027.”

The General Executive Director of the AFSA, Mr Ervin Mete, the Minister of Finance and Economy, Ms Delina Ibrahimaj, the First Deputy Governor of the Bank of Albania, Ms Luljeta Minxhozi, executives of commercial banks, stock markets, and other capital market stakeholders participated in this roundtable.

In her address, the First Deputy Governor Minxhozi, highlighted the key role of efficient capital markets in Albania. In this framework, she stated that the development of these markets helps reduce the high volatilities in both interest rates and exchange rates, establish a stable environment the monetary policy pass-through, maintain financial stability and generate a sustainable economic growth. On the other hand, efficient capital markets may provide funding to the private and public sectors, by bypassing the banking sector, opening thus the door to new financial resources and enhancing competitiveness. Also, these markets use so-called post-trading infrastructures to finalise transactions, which are tightly interconnected with payment systems, creating thus the key element of financial markets.

Next, the First Deputy Governor added that the Bank of Albania in collaboration with the World Bank and all the other national partners, has been working to draft the National Strategy of Financial Education and Inclusion (NSFEI), which delineates the general principles and objectives of financial education and inclusion. The purpose of the national strategy is to join all the national interested institutions within an inter-institutional structure with a coordinated objective and program, for enhancing financial literacy and inclusion in their respective fields. Ms Minxhozi underlined that the strategy will determine the objectives, instruments, action plans, financing sources, monitoring and assessment, in addition to the achieved progress for each of institutions.

Ms Minxhozi stated that the cooperation and coordination of the efforts amid the Bank of Albania, the Financial Supervisory Authority, and the Ministry of Finance and Economy has been quite significant, by yielding several joint initiatives.

“However, new innovations and challenges will arise from the implementation of the strategy and the development of capital markets, which might require an intensification or even a re-framing of the cooperation and coordination of efforts”, said the Deputy Governor.

Concluding, the First Deputy Governor of the Bank of Albania, Ms Luljeta Minxhozi ensured the full engagement of the Bank of Albania to support the implementation of this strategy and the further development of capital markets.