In his speech during the fifth conference of the Museum of the Bank of Albania, Governor Gent Sejko emphasized the historical and contemporary importance of the institution he leads, noting that the ideas for a national bank were raised during the time of Ismail Qemali, immediately after the declaration of Independence in 1912. He emphasized that the Bank of Albania, over the years, has had an irreplaceable role in the country's economy.
"Since its inception, the Bank of Albania has been built on the models of European banks, starting work with the gold standard," said Sejko, also mentioning the period of centralization after World War II and the major transformations after the 1990s.
The Governor underlined that the reforms undertaken during the democratic transition period have been key to the modernization of the institution, and that the Bank has played an important role in maintaining the country's financial stability. He added that the Bank of Albania has continuously tried to align its practices with those of the European Union, as part of the country's preparations for EU integration.
"In an economically interconnected world, Albania is no exception to global developments, so compliance with European standards is vital," Sejko concluded.
Gent Sejko, Governor of the Bank of Albania: Ismail Qemali, after the Act of Independence in 1912, considered it important to establish a Bank, built according to the models of European Banks. The Bank began its work starting with the gold standard. After World War II, the Bank was centralized. The Bank initially cooperated with several countries, before being maintained "on its own strength". Even after the 1990s, the Bank of Albania has had an important role in the lives of citizens. During democracy, important reforms have been undertaken to change the Bank of Albania. The Bank has played a role in the financial stability of the country. The BoA has brought its practices closer to the EU, to precede integration. Albania is no exception today to the global economic reality.
