Deputy Finance Minister Endrit Yzeiraj presented amendments to the Bank of Albania law to the Assembly’s Law Committee today. He said price stability remains the law’s fundamental principle and the Bank of Albania’s primary objective.
Yzeiraj described the legislation as a cornerstone of the country’s monetary and financial system. He said the changes aim to align national law fully with European Union requirements and help complete accession negotiations on monetary policy.
The draft law explicitly prohibits the Bank of Albania from providing monetary financing to the government and public institutions. It also establishes three committees for monetary policy, financial stability and auditing.
Another key change would increase the Bank of Albania’s capital from ALL 2.5 billion to ALL 6 billion, strengthening its financial position.
Yzeiraj said price stability had remained a key achievement under the existing law. However, he argued that European integration requires an updated framework that incorporates obligations arising from both EU directives and the bloc’s treaties.
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