TIRANA, Jan 11 /ATA/ The government aims to increase the ratio of bank accounts for citizens to 70% by 2023.
The draft law devised by the Bank of Albania on the “National Strategy for Small Value Payments” envisages the promotion of modern payment instruments throughout the country, with the aim of recording 10 non-cash payments per person by the end of 2023.
The measure also helps the government use “basic account” products to expand its payments, including pensions and unemployment allowances.
In the context of payment digitalization, it is intended that the Social Insurance Institute will shift from payment in cash of pensions and other social benefits to electronic transfers to beneficiaries’ accounts, applying low costs or no costs at all for retirees. /j.p/sm/
