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Foreign exchange market/ Sejko, calls to banks: Support businesses

2023-07-14 15:46:00, Ekonomi CNA

Foreign exchange market/ Sejko, calls to banks: Support businesses

The governor of the Bank of Albania, Genc Sejko, has called on banks to support businesses.

"Banks must support businesses in future contracts, in order to protect themselves from the fluctuations of the currency market," said the governor.

During a meeting where representatives from various banks in Albania were present, Sejko asked for greater readiness for lending to the private sector.

"Greater readiness is needed for lending to the private sector, to cope with the latest changes in the exchange rate of foreign currencies, which are at the lowest levels against the lek", he said.

Also, Sejko stated that the strengthening of the lek has increased the interest to save and invest in our national currency.

The topic of discussion during the meeting with the Association of Banks was Open Banking, the preparation of a new law for banks, in accordance with EU directives, and the solution to the banks' requirement for the minimum capital adequacy of 8%.

Among other things, bank managers also spoke about the study of options for the deposit insurance premium, depending on the obligations arising from the process of approximation of the legislation with that of the EU./ CNA.al





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