imf-wb-mission – Albanian Telegraphic Agency.

IMF and World Bank complete Albania assessment: Progress in financial system, modernised payment infrastructure

Sonila Mehmeti — Tue, 29 Sep 2026 11:30:45 +0000

TIRANA, Sept 29 /ATA/ Governor of the Bank of Albania Gent Sejko held a meeting with representatives of the joint mission of the International Monetary Fund (IMF) and the World Bank, as part of the conclusion of the Financial Sector Assessment Program (FSAP) for Albania.

The assessment was requested by the Albanian authorities, with the Bank of Albania serving as the institution responsible for coordinating it domestically. Senior officials from the Financial Supervisory Authority, the Deposit Insurance Agency and the Ministry of Finance also attended the meeting.

The FSAP provides an in-depth assessment of the financial sector, focusing on its ability to withstand potential risks and shocks, the effectiveness of the regulatory and supervisory framework, and institutional capacity to prevent and manage financial crises.

It also examines the needs and opportunities for further development of the sector, providing recommendations tailored to the country’s specific characteristics.

As part of the assessment, the Albanian authorities and the FSAP team exchanged data, information and analyses on developments in the financial system, and held technical meetings both among themselves and with financial market participants.

The assessment covered the institutional framework for financial crisis management, systemic risk assessment systems, the alignment of microprudential and macroprudential supervision with international best practices, the cybersecurity framework for the financial system, financing in the digital age and support for small and medium-sized enterprises, as well as the development of capital markets.

At the meeting, FSAP representatives highlighted the progress made by the financial system and its regulatory framework since the previous assessment conducted in 2013–2014.

According to the latest assessment, Albania now has more sound financial institutions and a more diversified financial system, with modernised payment infrastructure, expanded financial intermediation and greater adoption of technological innovations in the provision of financial products.

These developments have been underpinned by a legal and regulatory framework that has been significantly aligned with that of the European Union, enabling more effective and comprehensive supervision by the relevant public authorities.

However, the financial system operates in an ever-changing economic environment, presenting both new opportunities and challenges.

In this context, the FSAP assessment recommendations aim to ensure that the financial system remains resilient in the face of future challenges, while increasing its contribution to financing the real economy and strengthening its capacity to manage operational risks.

It was further emphasised that the FSAP assessment recommendations represent a unique opportunity to become part of the legal and operational changes being undertaken by the Albanian authorities as part of the alignment with European Union standards and practices.

On his part, and on behalf of the other public authorities represented at the meeting, the Governor thanked the FSAP team of experts for their commitment and work throughout the assessment process.

He emphasised the importance of the financial system undergoing such a professional and independent assessment at this stage of its development, and expressed satisfaction that the assessment confirmed the soundness of the financial system.

The Governor also took the opportunity to thank all Albanian institutions that contributed to the process, as well as market participants and its supporting infrastructure, for their engagement in open and constructive discussions.

The Governor further expressed the Albanian side’s commitment to carefully reviewing the assessment documents. As in the past, the FSAP recommendations will help the Albanian authorities strengthen the financial system reform process over the medium term.

/sm/