TIRANA, September 10 /ATA/ Governor of the Bank of Albania Gent Sejko praised the key role of the banking sector in supporting economic growth and strengthening the country’s financial stability.
Present at the meeting with bank representatives in Tirana, Sejko said that, “Over the last decade, the banking sector in Albania has undergone a series of changes and has experienced rapid development, which has turned it into a key factor for the country’s sustainable economic growth”.
The governor emphasized that through healthy lending, banks have contributed to maintain financial stability, support families and businesses and create new opportunities for investment and development.
“Albanian banks have also introduced modern products and services, in line with international standards. Open Banking has also begun to get materialized in Albania, guaranteeing more choices and personalized access for citizens. Meanwhile, electronic payments have increased significantly, reducing costs and increasing the speed of transactions”, he said.
Sejko emphasized that these developments have been crowned with Albania’s membership in SEPA (Single Euro Payments Area) and the inclusion of local second-tier banks in this European system, an important step towards full European financial integration.
“By maintaining stability and promoting innovation, Albanian banks have become an important engine of economic development, and a strategic partner in the process of our country’s European integration”, concluded Sejko. /j.p/p.s./
