Deputy Finance Minister Endrit Yzeiraj said proposed changes to Albania’s banking and payment laws will further align the country’s financial framework with European Union rules. Presenting the changes to the parliamentarian Economy Committee, he said the measures support Albania’s European integration process. They also address closing benchmarks for Chapter 4 on free movement of capital and Chapter 17 on monetary policy.
The changes will strengthen the legal framework for payment services and electronic money. They will set clearer rules for licensing, capital, customer funds, supervision and permitted activities. Meanwhile, the package will create a legal basis for mutual recognition of payment service licences after Albania joins the European Union. Licensed institutions in Albania will then operate across EU member states under common market rules.
The proposals will also increase transparency on fees and conditions, including transactions in different currencies. They will create a legal basis to limit interchange fees on card payments. Yzeiraj said the changes will also strengthen digital and operational security. The rules will cover technology risks, business continuity, incident reporting and fraud data.
The package will clarify the supervisory role of the Bank of Albania and strengthen consumer protection. It will also promote competition and innovation while helping reduce costs.
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