When euro is formalised in Albania, plan after membership clears demand for Bank of Albania

Not only will the euro be the currency by which citizens will buy services, loans and maintain deposits, but also in this law the rules the Bank of Albania must follow to become part of the European Central Bank.

It is chapter XV of this law that shows that it is the Bank of Albania that will take care of putting the euro on the market. The Bank of Albania is charged with circulation and attracting euro currency and currency, as well as adapting currency design under the European Union's relevant rules.

The euro as an official currency will also change the rules on how the currency reserves are kept.

“A key element of the chapter is overhauling financial and operational relations with the Eurosystem, including the transfer and management of currency reserves to the European Central Bank, as well as managing the rest of the reserves. ”

This bill paves the way for the integration of the Bank of Albania into the European monetary system. /tch