PRESS RELEASE
Third Meeting of the Banking Supervisory Authorities of South Eastern Europe, Sofia, October 3, 2008

The Governor of the Bank of Albania, Mr. Ardian Fullani, took part in the third meeting of the Banking Supervisory Authorities of South Eastern Europe held in Sofia on the 3rd of October 2008. Participants in this meeting were the Governors of the Central Banks of Albania, Bulgaria, Cyprus, Macedonia, Greece, Montenegro, Romania and Serbia, as well as the Heads of the Banking Agencies of Bosnia and Herzegovina and Republika Srpska.

During this meeting, the participants discussed the global financial crisis and the influence it may have on South Eastern Europe economies. In his speech, Mr. Fullani noted that the fundamentals of the Albanian economy remain stable and the Albanian banking system continues to be well-capitalized and liquid. However, the latest developments in the global market require greater prudence in conducting a balanced banking activity. It is crucial that the Albanian economy maintains and develops further the factors that sustain the country's economic growth and its macroeconomic stability. Mr. Fullani concluded that "Only a stable economy establishes sound fundamentals for conducting an efficient and productive financial activity. It is for this purpose that the deepening of structural reforms remains a key element for each country in the region."

Please find attached the joint press release issued at the end of the meeting.