Banks Return to Albania

In Albania the guilt phenomenon is resurfaced.

In a survey that has collected data by the end of June, the Bank of Albania reports that businesses and individuals have increasingly begun to use other money sources instead of borrowing from banks.

The Central Bank names the term” alternative resources” and says the signals and perception of second-level banks for falling loan demand is precisely related to finding financing in another way. Fenomen has spread to both categories, both individuals and businesses, while the monetary institution itself has recently acknowledged that there is a significant increase of informal money in the Albanian economy.

The biggest risk the Bank and other authorities see in the rise of the euro currency, whose mass use has brought a new balance in the exchange course and has forced institutions to launch a plan of measures against its use. Errors in Albania have emerged as opportunities for citizens and entrepreneurs every time there have been crises and banks have not given out loans, or during periods when there has been an increase in the money market, writes Tv Klan.