Electronic payments grew at double-digit rates/ Bank of Albania, discussion meeting with the Albanian Association of Banks
The Bank of Albania held a discussion meeting with the Board of Directors of the Albanian Banking Association.
Governor Gent Sejko stated that the Bank of Albania has been at the forefront of the revolution that is changing the way we access and interact with financial services. As a regulatory authority, on the one hand, it actively promotes technology that fosters the use of digital payments, and on the other, it ensures the necessary consumer protection, financial stability and supervision of financial entities.
The Governor underlined that significant progress has been made as a result of the measures taken so far by the Bank of Albania and market actors to increase the level of use of electronic payments per capita.
The use of electronic payment instruments has grown at double-digit rates. The number of digital payments per capita reached 23 in 2024, up from just 4 payments per capita in 2016. Also, financial inclusion - measured as the percentage of the population that owns at least one financial account - has reached 78%, up from around 40% in 2017.
In this regard, an important date is October 7, 2025, when the operationalization of cross-border payments in SEPA schemes will begin, which are several times cheaper and faster than cross-border payments carried out today with correspondent banks. The Governor added that the creation of such a facility will increase the use of digital channels for cross-border payments, at least with European Union countries, with positive chain effects for the Albanian economy.
Further, Governor Sejko stated that the transition to digital payments, and consequently the reduction of cash use, is a desirable process for the Albanian economy for several reasons. The Governor added that the acceleration of this process also requires the fulfillment of several conditions: the creation of appropriate infrastructures, access to digital payments at reasonable costs; the creation of a clear and strict regulatory framework to guarantee consumer security and protection; increasing the financial knowledge of the public; increasing the technological skills of the public and raising awareness of the advantages and risks of using digital payments. He called on banks to be as proactive as possible in all these areas.
Investments for the electricity network in Fier and Patos/ OSSH opens two tenders with a total fund limit of 204 million lek. The aim is to increase the quality
The Regional Directorate of OSSH Fier has announced the opening of the tender for the reconstruction of the medium voltage network, low voltage and feeder......
Kosovo's economy grew by 4.58% in the second quarter of 2025
The Kosovo Agency of Statistics (KAS) has published Gross Domestic Product data for the second quarter of 2025, which marked an increase of 4.58%. According......
Energy debts, 8300 agreements/schemes, OSHEE: Family members lead, 1,234 businesses also beneficiaries
OSHEE Group reports positive progress in relief schemes for the settlement of arrears, with over 8,300 agreements concluded during the period......
Electronic tickets, state-owned companies in transport/ Mema: Tickets, a necessity. Market supervision is needed
In the government program, one of the issues addressed is that of public transportation. The government aims to implement GPS/AVL electronic tickets,......
Ensuring the integrity of the Euro currency in Kosovo/ CBK and ECB sign cooperation agreement
The Central Bank of the Republic of Kosovo (CBK) and the European Central Bank (ECB) have signed a Cooperation Agreement in the field of combating......
New platform "Startup Albania" launched/ Rama: Through AI we eliminate bureaucracy for businesses
The “Startup Albania” platform will be the new bridge connecting talent with support, ideas with investment, and Albania with the European digital economy.......
The new platform "Startup Albania" is presented/ Rama: We will soon establish the National Council for Innovation
The new "Startup Albania" Platform is being presented at the Innovation Hub (formerly Pyramid) premises with the participation of Prime Minister Edi Rama,......
More taxes for the super-rich Europe has a range of options. But will they achieve their goals?
European governments with limited budgets seeking to tax the wealthy more to fill gaps in public finances and correct growing inequality may find that direct......
