PRESS RELEASE
Governor Sejko presents the Annual Report of the Bank of Albania 2015 to the Parliamentary Committee on Economy and Finance

On 29 March 2016, the Governor of the Bank of Albania, Mr Gent Sejko presented the Annual Report of the Bank of Albania 2015 to the Parliamentary Committee on Economy and Finance.

Reporting to the Parliament is a legal obligation and an accountability instrument for the activities carried out by the Bank of Albania during the year. The Annual Report introduces the members of parliament with the main objectives that will guide the Bank's activity in the period ahead.

Governor Sejko underlined that, in 2015, the Bank of Albania has worked to successfully fulfil its objectives stemming from the Law "On the Bank of Albania" as well as all the other obligations arising from relevant sub-legal acts and relations with our international partners.

Year 2015 was very important in terms of further perfecting the performance of the institution. During the year, the decisions of the Supervisory Council were fully reflected, with particular emphasis on the measures for strengthening the governance and improving the organizational, structural, financial and technological aspects at the Bank of Albania.

Governor Sejko also focused on the contribution of the Bank of Albania for safeguarding the macroeconomic and financial stability of Albania, as well as for the further development and consolidation of financial markets. The accommodative monetary policy implemented in 2015 has been an important factor in supporting the economic activity. It has guaranteed a financial and economic environment with low interest rates and ample liquidity. The prudential supervision of banks, the regulatory improvements, along with the intensive exchange of information with European and international institutions contributed to strengthening the banking system's financial stability.

In his presentation, the Governor focused also on the activity of the Bank of Albania for improving and enhancing the security of payments systems, administration and physical security of coins and banknotes, reserve management, research quality, methodology in the statistics produced by the Bank, public education, contribution to the financial integration, communication with public, development of information technology, accounting standards, motivation of human resources, and the strengthening of the Internal Audit.

The main objectives guiding the activities of the Bank of Albania in 2016 and beyond were also presented in the Report. Price stability, banking system solidity, credit recovery, market's supply with liquidity, reducing non-performing loans, implementation of best practices of supervision, strengthening the governance and increasing communication with the Parliament, the state institutions and strategic partners of the Bank of Albania, will be the activities of the institution in the years ahead.

In the end, the Governor answered questions from Members of the Parliamentary Committee on Economy and Finance.

On behalf of the Parliamentary Committee on Economy and Finance, Mr Anastas Angjeli spoke on the activity of the Bank of Albania during 2015, overall commending its work for safeguarding the macroeconomic and financial stability in Albania. He also focused on the internal governance and the fulfilment of the institutional objectives in accordance to the last year resolution of the Parliament. In conclusion, Mr Angjeli underlined the challenges faced by the Bank of Albania, noting the recommendations of the Parliamentary Committee on Economy and Finance for improving the Bank of Albania's activity and increasing its contribution to the Albania economy. Governor Sejko: Introductory statement to the Parliamentary Committee on Economy and Finance on BoA's Annual Report 2015

Governor Sejko: Introductory statement to the Parliamentary Committee on Economy and Finance on BoA's Annual Report 2015