The Bank of Albania announced it has implemented the international ISO 20022 standard for cross-border payment transactions and related financial reporting, joining SWIFT’s Cross-Border and Reporting Plus (CBPR+) community and enabling ISO 20022-compliant processing of international payments. Albania joined CBPR+ on 10 March 2025, making it the first country in the region to implement the standard and ahead of the official global deadline of November 2025. The central bank said it is the first financial institution in Albania and the region to be fully prepared for this change, and cited SWIFT data indicating that 33% of financial institutions worldwide have already adopted ISO 20022. The standard is intended to improve the exchange and quality of payment data to support greater transparency, safety and efficiency.
Bank of Albania 2025-04-04
Bank of Albania implements ISO 20022 CBPR+ standard for cross-border payments and reporting ahead of the November 2025 global deadline
The Bank of Albania has implemented the ISO 20022 standard for cross-border payments and financial reporting, joining SWIFT's Cross-Border and Reporting Plus community. Albania is the first in its region to adopt this standard, ahead of the global deadline of November 2025. The initiative aims to enhance payment data exchange, transparency, safety, and efficiency.