Bank of Albania Appoints Holta Zaçaj First Deputy Governor, Amends Licensing Rules

BANK OF ALBANIA

PRESS RELEASE

Decisions by the Supervisory Council, 1 April 2026

Publication date: 01.04.2026

In the meeting of 1 April 2026, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Appoint the First Deputy Governor of the Bank of Albania
  Pursuant to Article 44 of the Law No 8269/1997 "On the Bank of Albania", as amended, and following the proposal of the Governor, the Supervisory Council elected and appointed Ms Holta Zaçaj as the First Deputy Governor of the Bank of Albania.

• Approve the Financial Stability Statement and Report, 2025 H2
  The Financial Stability Report is an important periodic document prepared by the Bank of Albania whose main purpose is to identify and assess risks affecting the financial system and its infrastructure. The Financial Stability Statement, whose half-yearly release is a legal requirement set out in the Law “On the Bank of Albania”, prefaces the Financial Stability Report for the relevant period.

The Bank of Albania assesses that, in the second half of 2025, the banking sector remained stable. Activity in the sector continued to expand at an accelerated pace, supported primarily by robust growth in deposits and capital, which were channelled mainly toward lending and investment in securities. The banking sector recorded a positive net financial result, albeit somewhat lower compared with the previous year. Risks arising from interlinkages between the banking sector and other segments of the financial system, as well as those associated with the sector’s own activities, are assessed as contained. Financial soundness indicators, together with stress-testing results, point to a resilient banking sector capable of withstanding the identified risks. Nevertheless, banks need to strengthen their risk prevention and risk management frameworks, conduct regular stress-testing exercises, and maintain adequate levels of capitalisation to support the sustainability of their activities.

Economic developments over the period remained favourable, supported by robust private consumption and investment, as well as the sustained robust performance of the tourism sector. Economic growth was accompanied by a declining unemployment rate and an increase in both employment and wages. Fiscal policy remained prudent, and the public debt-to-GDP ratio continued to decline. Inflationary pressures continued undershooting the Bank of Albania’s target. Risks to economic and financial developments in Albania remain present and are primarily associated with heightened uncertainty stemming from the current international environment. Against this backdrop, it is essential that the economic and financial policies pursued by public authorities, as well as the actions of market participants, continue to safeguard adequate financial buffers and ensure the effective management of their investments.

• A set of amendments to the regulatory framework of the Bank of Albania concerning the licensing of banks, non-bank financial institutions, payment institutions, and electronic money institutions, as well as savings and loan associations., also encompassing the framework on anti-money laundering and the combating of terrorism financing The approved amendments are aimed at further enhancing and strengthening the regulatory and supervisory framework, in line with international standards for effective supervision and with a particular focus on the implementation of the recommendations issued by MONEYVAL experts.

In practical terms, these amendments introduce clarifications and enhancements regarding the concepts of “good reputation” and “beneficial owner.” They strengthen requirements concerning the integrity and suitability of capital owners, including beneficial owners, and establish the obligation to consult United Nations and European Union sanction lists in support of anti-money laundering and combating the financing of terrorism. In addition, the amendments aim to clarify requirements regarding deadlines and the right to submit licensing applications, enhance standards for the documentation necessary to assess the adequacy of ownership and management structures, and regulate matters related to changes in the capital of non-bank financial institutions, including the acquisition, sale, or transfer of qualifying holdings, as well as the suspension or revocation of licenses.

These amendments in practice concern the following regulations:

• “On licensing and exercise of the activity of banks and branches of foreign banks in the Republic of Albania".
• “On licensing, exercise of activity, revocation of the licence and liquidation of credit portfolio created from the financial activity of non-bank financial institutions”.
• “On licensing payment institutions and electronic money institutions, as well as registering payment services providers”.
• "On licensing and activity of savings and loan associations and their unions”.

• “On anti- money laundering and countering terrorism financing”.

• The reminting of the 20 Lekë metal coin, legal tender, and the reissuance of the 5000 Lekë banknote, legal tender
  This decision regarding the reminting of 20 Lekë coin and reissuance of 5000 Lekë banknote aims to meet the cash demand of the economy in both value and denomination structure, while ensuring a consistent and reliable supply over the coming years.

The Supervisory Council was also briefed on the day-to-day operational and functional activities of the Bank of Albania.