Bank of Albania Governor Gent Sejko met European Central Bank Executive Board member Piero Cipollone to discuss payment modernisation and Albania’s financial integration with the European Union. Cipollone is visiting Albania to attend the eighth International Conference on Regional Card Schemes and Financial Market Infrastructures for Small-Value Payments.

Sejko highlighted cooperation with the European Central Bank and efforts to align Albanian legislation with European Union standards. He also cited economic growth driven by consumption, investment and tourism, alongside a healthy banking sector and inflation close to the central bank’s target.

The governor said Albania’s participation in the Single Euro Payments Area had already reduced transfer costs and processing times. He also highlighted the TIPS Clone project, which aims to establish a national instant-payment platform operating around the clock. Sejko praised the Bank of Italy’s support and Cipollone’s contribution to the initiative.

Cipollone welcomed Albania’s efforts to modernise payments and align with European standards. Both officials also discussed central bank independence, price stability and the need to align the Bank of Albania’s legal framework with European standards.

/a.p./