The Bank of Albania published remarks by Governor Gent Sejko at the Diplo 2025 Conference of Albanian Ambassadors, where he focused on the central bank’s role in supporting Albania’s European market integration through cross-border payments. He pointed to Albania’s acceptance into the Single Euro Payments Area (SEPA) as a key milestone, citing legal and regulatory alignment with the European Union in payments and financial supervision. Sejko noted that all banks operating in Albania have been registered as eligible to operate under SEPA schemes and that, from 7 October 2025, Albanian citizens will be able to conduct cross-border transactions with EU Member States; the Bank of Albania estimates fee savings of around EUR 20 million in the first year. He linked SEPA participation to more efficient EU trade (around 70% of Albanian exports), improved payment conditions for European tourists, and faster and cheaper remittances exceeding EUR 1 billion annually through formal banking channels, while also citing three debt risk rating upgrades by Moody’s and Standard & Poor’s and foreign direct investment reaching about EUR 15 billion (around 60% of GDP).
Bank of Albania 2025-09-09
Bank of Albania highlights SEPA entry and 7 October launch of cross-border payments with EU Member States
Bank of Albania Governor Gent Sejko highlighted Albania's acceptance into the Single Euro Payments Area (SEPA) at the Diplo 2025 Conference, emphasizing its role in supporting European market integration. From 7 October 2025, Albanian citizens can conduct cross-border transactions with EU Member States, with estimated fee savings of EUR 20 million in the first year. SEPA participation is expected to enhance EU trade, improve conditions for European tourists, and facilitate remittances, alongside recent debt rating upgrades and foreign direct investment growth.