Albania has taken another step toward European Union membership with a new draft law on the Bank of Albania. The legislation sets the legal framework the country will need after joining the EU and meeting the requirements to enter the Eurozone.
The draft law aligns Albania’s banking legislation with EU rules. It also strengthens the Bank of Albania’s independence and supports greater financial stability in line with European standards.
According to the Media and Information Agency, the proposal creates the legal basis for the Bank of Albania to operate within the European System of Central Banks once Albania joins the EU and meets the economic convergence criteria.
The agency stressed that the draft law serves as a preparatory measure. It does not mean Albania will adopt the euro immediately. The country will introduce the common currency only after becoming an EU member and fulfilling all Eurozone entry requirements.
The agency described the draft law as another important milestone in Albania’s European integration process. It brings the country’s legal and institutional framework closer to EU standards.
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