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Bank of Albania |
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Bank of
Albania
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The Bank of
Albania was established on 1913 and is the central bank of Albania. The Bank
of Albania is the only institution in the Republic of Albania responsible
for designing, compiling, approving and implementing the monetary policy.
This policy is designed in view of fulfilling the main target of the Bank of
Albania: achievement and maintaining of price stability. |
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The Bank of
Albania, within the competences defined by the Law, is independent of any
other power for the accomplishment of its main objective and in exercising
the tasks assigned.
The Bank of
Albania, with the attribute of the monetary and supervisor authority of the
country, enjoys the following functions:
• It has the exclusive
right to issue and circulate the national banknote and currency;
• It keeps
and manages the foreign reserve of the Republic of Albania; |
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• It prompts the
normal functioning of payment systems;
• It serves as Bank
of banks;
• it compiles, adopts and implements the foreign exchange regime and the
exchange rate policy;
• It licenses or revokes a license on exercising banking activity and
supervises the banking activity to ensure the banking system stability;
• It acts as banker, advisor to, and as fiscal agent, of the government of
the Republic of Albania; and
• It compiles, approves
and implements the monetary policy of the country, and employs the
appropriate monetary instruments to achieve the monetary policy targets.
In achieving the functions above, the Bank commits itself to
providing effective support functions through a sound banking and financial
control system, appropriate information system and the development of
competent and qualified staff.
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Bank of Albania |
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HQ
Address: |
Rruga
Dëshmorët e 4 Shkurtit,
Tirana 1010
Albania |
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Telephone: |
+ 355 4
241 93 01 |
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Facsimile: |
+ 355 4
241 94 08 |
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Website: |
www.bankofalbania.org |
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SWIFT Code: |
STANALTR |
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Currency: |
Albanian
Lek |
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Banking Hours: |
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Monday - Friday 9.00am - 5.00pm |
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The Bank of Albania is a fully state owned-bank
and is accountable to the People’s Assembly of the Republic of Albania. The
Bank of Albania is managed by the Supervisory Council, composed of 9
members, appointed by the People’s Assembly of the Republic of Albania for a
term of seven years, eligible for reappointment. The Supervisory Council is
headed by the Governor, who serves as General Executive Director as well, in
charge of the day-to-day business of the Bank of Albania.
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