BANK OF ALBANIA

PRESS RELEASE
Fourth Meeting of the National Payment Systems Committee

Publication date: 21.06.2018

 

On 20 June 2018, the National Payment Systems Committee (NPSC) held its fourth meeting, chaired by Ms Elisabeta Gjoni, First Deputy Governor of the Bank of Albania. In addition to NPSC members, representatives from the World Bank, experts for the financial system and payment systems, also attended this meeting.

At the beginning, the participants were introduced to the NPSC’s new members: representatives from non-bank financial institutions, and payment systems operators, for a comprehensive representation of all stakeholders in the market.

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Then the NPSC approved the National Retail Payments Strategy 2018-2023 and presented the projects realised so far related with this Strategy, in the framework of modernising the retail payment systems. This Strategy is based on a set of analyses and reports  by the Bank of Albania, prepared with the support of the World Bank. The approved Strategy will be the guideline for the common engagements in the short and medium term-period.

The vision of the strategy is “creating a contemporary and all-inclusive retail payments market, supported by safe and efficient infrastructure, and a broad range of instruments and services that satisfy the needs of the users”.

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With regard to the improvement of the legal and regulatory framework – an objective of the Strategy - the NPSC discussed the draft-law “On payment services” which transposes the relevant EU Directive (PSD).  This draft-law is prepared by the Bank of Albania with the support of the World Bank and SECO funds. Its approval and implementation will promote competition and innovation in retail payments and will balance the provision of payment services between banks and non-bank financial institutions.

At the conclusion, it was proposed to establish Working Groups with NPSC members, for the implementation of the goals and action plans set out in the National Retail Payments Strategy.