This system enabled for the first time the processing and settlement of national transfers in the European currency within the country.

According to the statistics of the Bank of Albania for the period January-June of this year (the system has been up and running since January 24), more than 59 thousand transactions were performed in the AIPS Euro system at a total value of about 1.34 billion euros.

The trend is steadily increasing month after month.

For June, the number of transactions reached 14,400, from about 8,700 in February. While the value of transactions for the month of June reached 274 million euros, from 202 million euros in February.
Before the establishment of the AIPS Euro system, national transfers in euros could only be carried out through the use of accounts that Albanian banks have in correspondent banks abroad.

This procedure led to delays and, above all, much higher costs compared to transfers in Lek. With the new AIPS Euro system up and running, the Bank of Albania has also set the ceiling values for the commissions that second-level banks can charge to their customers.
/sm/