The Bank of Albania, Measures Being Taken to Reduce Remittance Costs for Emigrants

The Bank of Albania, Measures Being Taken to Reduce Remittance Costs for

The Bank of Albania will take legal and infrastructure initiatives to facilitate and reduce the remittance costs for emigrants.

Governor Gent Sejko said that it is important to achieve this in accordance with a concrete plan.

“Despite the developments I mentioned earlier, much remains to be done and in this context I invite all to continue the efforts with the same intensity shown so far to modernize the domestic payment market. In the medium term, the Bank of Albania will focus efforts on a number of initiatives, highlighting further legal developments and infrastructural improvements as the most important. An important step in the medium term is the drafting of the bill "For the payment account",” said Gent Sejko.

Meanwhile the Minister for Diaspora, Pandeli Majko emphasized that remittances are a key source of revenue for the Albanian economy.

“The issue of remittance treatment is a matter of first hand economic development for the country. It is a challenge for the future, which Albania cannot face seriously without dialogue with the local banking system. Without a common policy on this issue, we will soon be confronted changing ways of migration and family reunification in the medium term,” said Majko.

According to the Bank of Albania, income from remittances continued to increase over the last year.

Përktheu: Paola Pupla

EMISIONET