Albania's Ministry of Finance outlines Cabinet approval of three draft laws on payments and banking to align rules with the European Union

Albania's Ministry of Finance said the Council of Ministers approved three draft laws aimed at further modernizing the country's financial system and aligning the legal framework with relevant European Union directives. The package would amend the laws on payment services, payment systems and banks in Albania. According to Finance Minister Petrit Malaj, the proposed changes are intended to reduce financial service costs for citizens and businesses, increase security and efficiency in the financial system, strengthen consumer protection, and promote competition and innovation in the market. The ministry also framed the package as supporting the development of the financial market and the broader transformation of the economy.