BANK OF ALBANIA

PRESS RELEASE
Decisions taken by the Supervisory Council, 7 June 2017

Publication date: 07.06.2017

 

On 7 June 2017, the Supervisory Council of the Bank of Albania reviewed and decided to:

  • Approve new visual and security features of banknotes

As the exclusive issuer of the national currency, and conform to its institutional development strategy, the Bank of Albania ensures that the structure and quality of the currency in circulation meet the dynamic market needs, thus adapting to the evolution of the purchasing power and relevant technology.

The Supervisory Council approved the improved design of banknotes currently in circulation. The series of the banknotes will retain the actual theme, yet with improved visual and security features.

  • Approve the printing of Albanian legal tender 200 and 5000 lek banknotes, and production of printing materials for 200, 500, 1000, 2000 and 5000 lek banknotes

In accordance with this decision, 200 and 5000 lek banknotes will be printed conform to the new and improved visual and security features of the banknotes.

The banknotes with improved visual and security features are expected to be put in circulation starting from the beginning of 2019.

  • Approve amendments to the Regulation "On establishing the level of decision-making in the supervision of banking and financial activities'

This regulation was revised to adapt it to the provisions of the new law and other regulatory and supervisory acts regarding savings and loan associations and their unions, with a view to include new licencing and supervisory processes in the annexes that ensure the delegation of competences for these entities.

  • Grant the preliminary approval for conducting an additional financial activity to Veneto Banka sh.a.

Following the approval, Veneto Banka sh.a. may conduct the additional financial activity as an insurance agent.

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