Albania's Ministry of Finance announced that Parliament approved two bills modernizing the legal frameworks for payment systems and banking. The reforms align Albanian legislation more closely with European Union standards, establish clearer rules for financial service providers and support Albania’s commitments under Chapter 4 on the free movement of capital. The payment systems reforms align the framework with the revised EU Payment Services Directive, known as PSD2, and provide payment service providers with equal access to national payment systems. They are intended to expand electronic payments, facilitate market entry by new providers and increase service choices for consumers and businesses. The banking reforms clarify the boundaries between banking activities and those of electronic money institutions, reducing regulatory overlap while strengthening legal certainty and supervisory effectiveness.
Albania's Ministry of Finance announces parliamentary approval of EU aligned payment and banking reforms
Albania’s Parliament approved Ministry of Finance reforms to the payment systems and banking frameworks, bringing them closer to EU standards. The measures provide equal access to national payment systems and clarify the division between banks and electronic money institutions, supporting competition, digital payments and more effective supervision.