PRESS RELEASE
Press release on Bank of Albania’s Supervisory Council meeting, 25 February 2015

Today, on 25 February 2015, the Supervisory Council of the Bank of Albania approved the annual report on the activity of the institution during 2014.

The annual report is a legal obligation for the Bank of Albania and an instrument for its accountability before the Parliament of the Republic of Albania. The annual report is an important document informing the Parliament and the public on the activity of the Supervisory Council and of the Bank of Albania for achieving the institutional, monetary, currency, supervisory, operational and developmental objectives.

More specifically it reflects:

• Overall macroeconomic developments in Albania;
• Monetary policy and reserve policies implemented by the Bank of Albania;
• Developments in financial markets and potential risks facing the financial stability;
• Supervisory, licencing and regulatory activities;
• Currency issue, payment systems, research, communication and public education;
• Human resources management and logistics services;
• Internal audit;
• Accounting, financial statements, and independent auditor's statement;
• Main objectives for 2015.

After its approval by the Parliament of the Republic of Albania, the report will be fully published on Bank of Albania's official website: www.bankofalbania.org

In today's meeting of the Supervisory Council, new heads of department were also introduced for some of Bank of Albania's departments, namely of the Supervision, Administration, Information Technology and Human Resources departments.

These changes were made in the framework of the organisational improvement at the Bank of Albania, aimed at enhancing the effectiveness of these departments and transmitting a new spirit towards fulfilling the main functions of the institution.

Strengthening the supervisory, regulatory and licencing role of the Bank of Albania, further approximation with Basel standards and the acquis communautaire, as well as capacity building for risk management, remain key objectives. 

Moreover, these changes aim at a better management of logistics services and human resources at the Bank of Albania.