PRESS RELEASE
Decisions by the Supervisory Council, 2 March 2022

On 2 March 2022, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Approve the Annual Report of the Bank of Albania for 2021

The annual report is a legal obligation of the Bank of Albania for realising the accountability to the Assembly of the Republic of Albania and the communication with the financial system, the media and the public. It is the most important document, which transparently informs the Assembly on the decision-making of the Supervisory Council and the activity of the Bank of Albania with a view to fulfilling its institutional, operational and development objectives.

The report, inter alia, reflects the following:

• Overall macro-economic developments in Albania;
• Monetary and foreign-currency related policy implemented by the Bank of Albania;
• Developments in the banking system and potential risks facing financial stability;
• Supervisory, licensing and regulatory activities;
• Currency issue, payment system, statistics, research, communication and financial education;
• Human resources management;
• Internal audit activity;
• Medium-term objectives of the institution.

Following its presentation to the Assembly of the Republic of Albania, the Annual Report 2021 will be available at: http:/www.bankofalbania.org/.

• Approve the guideline “On the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance or other comparable guarantees"

The drafting of this guideline implements the requirements of the Law "On payment services", which provides for the drafting of bylaws to determine the criteria for the minimum monetary amount of the professional indemnity insurance or other comparable guarantees, for entities that apply for licensing / registration to provide payment services.

The Supervisory Council was also informed on the daily functional and operational activities of the Bank of Albania.