TIRANA, May 20/ATA/ Cross-border payments within the SEPA scheme, for individuals and businesses from and to Albania-Europe, will start in October 2025.
First Deputy Governor of the Bank of Albania Luljeta Minxhozi said in a media interview that, “Direct payments with Europe will start within a few months. The entire legal and operational infrastructure has now been resolved and the solution for Albania, as part of the region, has been made through a technological clone provided by the Bank of Italy.”
According to her, the Bank of Italy has assisted in this process through the central bank.
“We do not yet have the right, since we are not members of the EU, to participate directly in this system. On the other hand, we are legally ready to connect to this system. In this process, the Bank of Italy has helped us through the central bank, because the Bank of Italy is the owner of this type and has issued a clone of this type, a technological clone, which has been made available to the six Western Balkan countries”, said Minxhozi.
According to the first deputy governor, participation in the SEPA schemes will bring significant benefits to the Albanian consumer and business, through reducing the cost of transfers and expanding economic activity.
On the other hand, she pointed out, the introduction into the SEPA system has been achieved and also affects building of confidence in the Albanian banking system.
“Institutional membership in SEPA has removed this institutional stigma from us. Today, we have all the instruments to show that our payments are legal, formal and in compliance with all European Union acts,” stressed Minxhozi. /a.f/p.s./
