BANK OF ALBANIA
The second high-level meeting in the framework of the Memorandum of Understanding on Remittances between the Bank of Albania, the Minister of State for the Diaspora and the Ministry of Finance and Economy
Publication date: 14.12.2018
On 14 December 2018, at the premises of the Bank of Albania, the second high-level meeting was held between the Bank of Albania, the Minister of State for the Diaspora, commercial banks, and non-bank financial institutions engaged in the field of money transfers that operate in Albania.
This meeting was held in the framework of the Memorandum of Understanding "On Remittances” signed last year by the Bank of Albania, the Minister of State for the Diaspora and the Ministry of Finance and Economy.
The meeting aims to discuss the achievements in the first year after signing the Memorandum, as well as the goals and needs for future joint interventions, the inclusion of diaspora and migration in the economic development and country welfare.
The ceremony started with opening addresses by the Governor of the Bank of Albania, Mr Gent Sejko, and the Minister of State for Diaspora, Mr Pandeli Majko.
During his speech, Governor Sejko underlined the importance of remittances for the Albanian economy, family welfare and development in general. He stated that, during 2018, the Bank of Albania was vigorously engaged in creating the necessary preconditions for the efficient channelling of these remittances into the Albanian economy.
Moreover, Governor Sejko added that nternational initiatives in the field of remittances underline the importance of reducing the costs and increasing the efficiency of remittance services. He noted that during this year, the Bank of Albania has engaged in a series of projects aimed at analysing the domestic market with a view to identifying and addressing the needs for intervention. Concluding, Governor Sejko said that the Bank of Albania will continue to further develop the legal framework and to improve the infrastructure, to sustain the financial inclusion and reduce the costs for using these instruments. He affirmed his confidence that all the stakeholders will continue, with the same intensity, their efforts to integrate this very important factor into the Albanian economy at the fastest and broadest extent possible.
The next session of the meeting continued at the technical level, and the participants had the opportunity to discuss future engagements and initiatives.
- Minister Majko: Welcome address at the high-level meeting on the remittances of the Albanian diaspora