Sejko – to banks: Within two years, laws and regulations will be fully aligned with the EU

2025-12-18 14:54:00, Ekonomi CNA

Sejko – to banks: Within two years, laws and regulations will be fully

The Governor of the Bank of Albania, Gent Sejko, warned banks yesterday that in the next two years the legal and regulatory framework of the banking sector will be fully aligned with that of the European Union.

In his speech at the end-of-year meeting with the Albanian Banking Association, the Governor said that, in this process, the understanding and cooperation of the banking industry is necessary, so that the changes are adopted correctly and the benefits materialize as soon as possible.

"During the coming year, the financial system and the banking sector will be subject to an assessment by the International Monetary Fund and the World Bank, within the framework of FSAP 2026. This assessment will serve as an international certificate for the quality of the general legal and sub-legal framework, supervisory practices and risk management for financial activity, while simultaneously identifying gaps and guiding towards necessary improvements. I am convinced that the cooperation of the banking industry during this process will be full and constructive, " said Sejko.

Speaking about other challenges ahead, the Governor said that maintaining focus on expanding the provision of quality and transparent banking services, fairly diversified and supported by appropriate risk management criteria, will remain essential for strengthening public confidence and supporting the growth of your activity. In particular, he emphasized investments in technological innovation and digitalization, in parallel with the establishment of the highest standards of cyber protection, as a necessity to maintain a healthy competitive position for banks.

"The role of banks in supporting the private sector and the country's economic growth remains irreplaceable. In this regard, it is important that financing is oriented towards productive sectors with a high level of added value, supporting small and medium-sized businesses more. Although they are private enterprises with a primary goal of profit, banks remain institutions with strong social responsibilities and must continue to contribute to financial education, financial inclusion, green finance and support for the country's sustainable development, " he said.

Sejko positively assessed the performance of the economy and the financial sector during this year. He said that during 2025, the Albanian economy is expected to record an economic growth of around 4%, generating more employment, higher wages and more income for families and businesses.

"In parallel, the main financial and economic indicators marked significant improvements. Public and external debt marked further declines and are at the lowest levels in the last three decades, the financial balance sheets of households and businesses appear solid, while the banking sector has continued to consolidate its role as an effective financial intermediary. The financial environment with low interest rates, together with banks' proactive approach to lending, stimulated strong credit growth, which resulted in around 14-15% higher than in 2024, providing significant support for economic activity," he said. /Monitor