Collaboration or favoritism?/ Conversations that raise doubts about the Central Bank

2025-11-08 13:48:00, Denoncim CNA

An agreement signed between the National Business Center and the Institute of Fiscal Experts, presented as assistance to businesses, is turning out to be much more complex than was publicly communicated.

Following the promise of a free platform for fiscalization and accounting, offered by the private company SmartFin, in collaboration with the Central Bank of Albania and the IEF, conversations secured by CNA between new businesses, IEF and SmartFin reveal the confusion caused and the lack of transparency.

QKB favors private companies/ "Free" platform that distorts competition in the market
November 3, 16:41

In the conversations we are publishing this Saturday, representatives of SmartFin and IEF are heard giving different explanations about the nature of the cooperation with the Central Bank and the "free" period of the application, leaving businesses uncertain about who is really behind this service, the state or a private company.

Collaboration or favoritism?/ Conversations that raise doubts about the Central

In one of the conversations, a new business contacts the SmartFin company after receiving an email informing them of a "free tax assessment" in collaboration with the Central Bank and the IEF.

At first, the SmartFin operator explains the program’s functions, emphasizing that it is “free until January 2026,” but then admits that it is not known what will happen after this period. When the business asks if it is a state-provided program, SmartFin’s response shows the confusion that the public communication of the initiative has caused. According to SmartFin, this collaboration is related to obtaining basic business data through the Central Bank system, facilitating registration on the platform. But the fact that SmartFin benefits from direct access to public business registration data creates an advantage that other private operators do not have.

In another conversation, the business contacts the Institute of Fiscal Experts to get more information about the agreement in question. The IEF representative claims that the application is in cooperation with the Central Bank. But when asked about the period after the end of the free offer, the IEF adds that it does not know what the company will decide.

So, even IEF itself, the organization that signed the agreement with the Central Bank, does not have complete information about the business model, pricing, or the duration of the free service.

Collaboration or favoritism?/ Conversations that raise doubts about the Central

The CNA editorial team has previously officially requested information from the Central Bank on the legal basis of the agreement with IEF.

In its response, the CBK did not provide detailed explanations on how SmartFin was selected, whether consultations were held with other licensed private operators, or whether any market impact assessment was conducted before signing the agreement.

Collaboration or favoritism?/ Conversations that raise doubts about the Central

The discussions between businesses, SmartFin and IEF further highlight the problematic situation, where a public-private partnership is being perceived by businesses as a free government service. In practice, this creates confusion in the market, giving SmartFin a privileged position compared to other competitors that offer similar paid services.

In the absence of transparency on the selection criteria, the risk remains high that this project will distort competition and place a private company at an unfair advantage thanks to institutional support./CNA