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BANK OF ALBANIA
GOVERNOR'S OFFICE

PRESS RELEASE

Decisions by the Supervisory Council of the Bank of Albania, 22 November 2017

Publication Date 22.11.2017

In its meeting on 22 November 2017, the Supervisory Council of the Bank of Albania decided to:

  • Approve the Medium-term Development Strategy of the Bank of Albania for 2018-2020

The Medium-term Development Strategy of the Bank of Albania 2018-2020 unveils the ambition of the Bank of Albania for the next three years. The document approved today by the Supervisory Council is an update of the Strategy 2016-2018.

The update extends the duration of the existing strategy beyond 2018, thus providing the necessary programmatic support for the Medium-term Guiding Budget for 2019 and 2020.

The Strategy aims to respond proactively to the challenges of the environment where the Bank of Albania operates; foster the cooperation within the institution; promote the effective and efficient use of resources; as well as promote public transparency and accountability.

The strategy includes the main functions of the Bank: policies (monetary policy, foreign currency reserve, banking supervision); financial infrastructure (money issue, payment systems); good governance (audit, communication and financial education); other functions (research, statistics); and supporting services (human resources, legal issues, accounting and finance, procurement and services, IT).

The annual reports of the Bank of Albania inform regularly on the implementation of the Medium-term Development Strategy.

  • Approve the budget of the Bank of Albania for 2018 and its medium-term indicative budget for the period 2019-2020.

The budget approved for 2018 and the indicative medium-term one for 2019-2020 guarantees the fulfilment of the strategic objective of the Bank of Albania envisaged in its Medium-term Development Strategy. The current situation in international financial markets, the economic and financial developments in Albania, current and capital expenditure which are indispensable for a good management of assets and human resources are taken into account in the budget drafting.

The budget of the Bank of Albania for 2018-2020, among other things, aims to further perfect the monetary policy and operational framework, further develop the professional capabilities of the Bank of Albania, supply the economy with qualitative banknotes, careful processing of the banknote, as well as perfecting public communication and transparency. At the same time, the budget supports the necessary investments for the improvement of the technological infrastructure, security and the facilities where the Bank of Albania exercises its activity.

  • Approve “Granting preliminary approval for assuming the qualifying holding (indirect) for the company Amryta Capital LLP, United Kingdom in the equity capital of Credins Bank sh.a.”.

Based on this decision, the Supervisory Council of the Bank of Albania grants the preliminary approval for the indirect qualifying holding amounting to 14,918% of the company Amryta Capital LLP, United Kingdom in the equity capital of Credins Bank sh.a.. Amryta Capital LLP will acquire 100% of the shares of BFSE Holding BV, Netherlands, which is shareholder of Credins Bank sh.a..

  • Approve issuing commemorative coins, for numismatic purposes, in 2018

In the framework of the 550th anniversary of the death of our National Hero Gjergj Kastrioti Skanderbeg, the Supervisory Council of the Bank of Albania decided to approve the issuing of a series of commemorative coins on “550 years in memoriam Gjergj Kastrioti Skanderbeg (1468-2018)”. The series will be issued during 2018 and will consist of three coins, with nominal value of 200 lek in gold, 100 lek in silver and 50 lek in simple metal.

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



 

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