In a press release, the World Bank announces that, “it actively supports the strategy of the Bank of Albania for Financial Education and Inclusion, through the Program for Payments and Remittances”.

During this period, the WB has contributed in the field of extraordinary intervention and specifically in the operationalization of the regulatory framework aligned with that of the European Union.

Thanks to this support over the last few years, progress has been made in terms of the sub-legal framework pertaining to extraordinary intervention, through the drafting of 15 regulatory acts in accordance with the Law “On recovery and extraordinary intervention in banks, in the Republic of Albania” as well as steps have been taken towards advancing the process for basic payments.

Also, Albania’s participation in SEPA will not only mark a very important step in the journey towards European integration, but will create facilities for Albanian businesses and consumers in terms of cost, time and simplicity with which they will perform cross-border transactions within the European market and will have a significant contribution in several strategic sectors, such as tourism, exports with the EU, and the formalization of remittance flows.

The World Bank notes that it’s imperative that all citizens are well-informed and vigilant to safeguard their hard-earned money against online fraudsters.

“The digital world is full of sophisticated scams targeting unsuspecting individuals. Therefore experts appeal for more care not to fall a victim of online fraudsters.
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