100th anniversary of the Bank of Albania/ Sejko: We have achieved a high degree of convergence with EU norms

2025-11-11 09:47:00, Ekonomi CNA

100th anniversary of the Bank of Albania/ Sejko: We have achieved a high degree

The Governor of the Bank of Albania, Gent Sejko, was present at the event organized for the 100th anniversary of the establishment of this institution.

In his speech, Sejko stated that the Bank of Albania has achieved a high degree of convergence with EU norms.

Further, the governor said that despite fluctuations, the Albanian economy has seen an increase in average income per capita.

Sejko stated that the Bank of Albania must continue its work to promote the country's financial stability. Focusing on monetary policies, Sejko said that over the last 3 decades, the regime has proven successful.

" Every anniversary should also serve as a moment of critical reflection on what we have achieved and what lies ahead."

The vision for the creation of a central bank was articulated in 1899 by the Renaissance man Sami Frashëri. This idea was embraced and carried forward by Ismail Qemali.

The beginning of the 1990s marked a major transition that brought fundamental changes to the banking system. In 1992, the Bank of Albania was formed.

The Bank of Albania has achieved a high degree of convergence with EU norms. It has built an effective dialogue process. In quantitative terms, the financial process is also a proof of achievements. Despite fluctuations, the Albanian economy has seen an increase in average income per capita.

The Bank of Albania must continue to work to promote the country's financial stability.

Central banks must have a clear policy framework for achieving objectives.

The Bank of Albania believes that its current framework provides an optimal strategy for maintaining price stability. The inflation targeting regime offers the best path to controlling inflation. This monetary policy regime has proven successful over the past three decades.

In terms of regulating the banking sector, the Bank of Albania will continue to work on safety nets in the EU.

The banking sector will remain the main pillar of our financial system.

"Albania needs to base its development model on increased productivity ," said Sejko.