Payment systems



Payment systems are very important for the economy and financial system. Swift and reliable payment transactions between economic units contribute to a stable performance of the economy.

In this regard, Bank of Albania is responsible for guaranteeing the normal functioning of the payment system. It manages and regulates two interbank payment systems, which constitute the underlying infrastructure for domestic and cross-border payments.

More specifically these two systems are:

  • AIPS (Albanian Interbank Payment System), which is a Real-Time Gross Settlement system that processes all interbank large-value payments, irrevocable and unconditional, in the Republic of Albania.
  • AECH (Albanian Electronic Clearing House) enables the net settlement of all small-value payments, channelled electronically by banks, in accordance with the operating schedule. The clearing system for small-value payments is fully integrated with the AIPS.

Both systems are owned by the Bank of Albania, which is also an intermediary for clearing and settling interbank payments.



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