PRESS RELEASE
Signing of the Inter-institutional Cooperation Agreement on currency protection against counterfeiting

On 17 January 2023 the Bank of Albania, the Ministry of Interior, and the Prosecutor General 's Office signed the inter-institutional cooperation agreement "On increasing efficiency in the prevention and protection of currencies from counterfeiting, as well fighting the criminal activity in this field", at the premises of the Bank of Albania.

The Governor of the Bank of Albania, Mr Gent Sejko, the Minister of Interior, Mr Bledar Çuçi, and the Prosecutor General, Mr Olsian Çela, greeted the signing ceremony. Also, representatives from commercial banks, the Albanian Association of Banks, the Deposit Insurance Agency, and the Albania State Police - attended this ceremony.

Through this agreement, the three institutions crowned their voluminous work started years ago to increase cooperation on the prevention and protection of currencies against counterfeiting, as well as on fighting in a timely manner this phenomenon in Albania.

In his greeting speech, Governor Sejko stated that this cooperation agreement demonstrates the continuous commitment of the Bank of Albania in further strengthening the quality and security of the banknotes in circulation. He pointed out that the latest data show a significant decrease in the number of counterfeit banknotes in circulation. Notwithstanding the low figures, institutions are aware to be mindful and proactive, as counterfeiters try to advance alongside the new technologies regarding their criminal activities.

In this view, Governor Sejko highlighted that the Bank of Albania, the Ministry of Interior and the General Prosecutor's Office today signed this cooperation agreement as a further effort to strengthen the institutional framework and to define the operational protocols of cooperation in the protection field of currencies against counterfeiting.

In addition, the Governor specified that the agreement includes both the national currency, the lek, and the European Union currency, the euro. At the same time, the Bank of Albania has signed a cooperation agreement with the European Central Bank on the exchange of information for the protection of euro banknotes from counterfeiting.

The Cooperation Agreement is related to the implementation of the recommendations of the Stabilisation and Association Committee (SAC) between Albania and the European Union for the protection of currencies from counterfeiting in compliance with the European standards. Therefore, the Bank of Albania through the signing of this agreement, fulfils one of the priorities for the implementation of the recommendations arising from the Stabilisation and Association Committee.