Today Albania marks the 100th anniversary of the National Bank.

The Albanian Government and an Italian financial group established the bank. Mufid Libohova signed on behalf of Albania, and Mario Alberti represented the Italian group. The bank set its administrative center in Durrës. The Administrative Committee operated from Rome.

The bank issued the first national currency, the gold franc and its subunit lek, in February 1926.

The bank responded to urgent needs after Albania gained independence. Foreign bank branches had appeared in the market. They mostly operated locally under municipal patronage.

Albania began negotiations for a national bank in 1921. Experts from the League of Nations monitored the process. They recommended that the Italian Bank guide the creation of the Albanian banking system. Albania and Italy then conducted bilateral discussions.

The bank’s capital was 12,500,000 gold francs. Shareholders could increase the capital through a general assembly decision. The Board of Administration included representatives from both founding groups and Albanian members. The board assigned powers to a Management Committee of two to four members.

In 1938, Italian shareholders decided to move the new bank building closer to the capital. Architect Morpurgo designed the building.

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