PRESS RELEASE
Governor Dakic of the Central Bank of Montenegro visits the Bank of Albania

On 6 May 2016, at the invitation of the Governor of the Bank of Albania, Mr Gent Sejko, the Governor of the Central Bank of Montenegro, Mr Milojica Dakić, visited the Bank of Albania for the first time, accompanied by Mr Darko Bulatovic, Head of the Supervision Department, and Mr Idriz Cetkovic, Head of Banking and Financial Operations Department.

The two governors discussed on bilateral relations, performance of respective banking systems and most recent developments in the region.

Governor Sejko informed the guests on the recent financial developments in Albania, underlining that the Albanian banking sector is liquid and well capitalised. He added that the Bank of Albania remains committed to guaranteeing and safeguarding financial stability in Albania. About the domestic economic situation, Governor Sejko said that, notwithstanding the challenges from the external economic environment, the economy remains in a positive development trajectory. The Governor guaranteed that the Bank of Albania will continue, through the accommodative monetary policy stance, to provide the appropriate contribution to support efforts for steady economic growth.

In an overview of main developments in the Albanian banking sector, Governor Sejko pointed out that the growth of credit and reduction of non-performing loans are at the focus of the work of the Bank of Albania. In addition, he informed Governor Dakić on the inter-institutional plan of measures of the Bank of Albania and other Albanian authorities on reducing the level of non-performing loans.

International financial developments and European integration was another topic of discussion between the two governors. They noted the importance for Albania, Montenegro and other countries in the region to have a unified position in European and international fora, as they share similar specifics and characteristics.

They also discussed on the efforts of the two central banks on the approximation of the respective legal framework to European directives. Governor Sejko informed Governor Dakić on the work of the Bank of Albania in this aspect.

Governor Dakić of the Central Bank of Montenegro, Mr Milojica Dakić, thanked Governor Sejko for the invitation and valued the existing cooperation between the two central banks. Governor Dakić made an overview of macroeconomic developments in Montenegro, pointing out the challenges and problems faced by the Montenegrin banking system. He highlighted the contribution of the Central Bank of Montenegro in the European integration process and adoption of European standards.

The interlocutors shared the same opinion on the perspectives of further enhancing the economic cooperation between the two countries, mainly in the aspect of the financial system.

Concluding, Governor Sejko invited Governor Dakić to the Annual Conference of the Bank of Albania, scheduled in September 2016.

During his visit to the Bank of Albania, Governor Dakić met also with the deputy governors and heads of some key departments of the Bank of Albania, and discussed on banking supervision and financial stability-related policies in both countries.

At the end of the visit, the delegation of the Central Bank of Montenegro visited the Museum of the Bank of Albania, appraising this initiative of the Bank of Albania.