Finance Minister Petrit Malaj presented 2 bills to the Assembly of Albania on amendments to the laws governing payment systems and banking. He said the changes would modernise the financial system and align Albanian legislation with European Union standards.

Malaj said the proposals would improve transaction security, reduce costs and strengthen competition. The payment systems bill aligns Albanian legislation with the EU’s Payment Services Directive 2 (PSD2). It also supports accession negotiations under Chapter 4, which covers the free movement of capital. Meanwhile, Malaj said the changes would expand digital payments and give citizens and businesses more financial service options.

The second bill seeks clearer rules for banks and electronic money institutions. Malaj said the changes would prevent overlaps between their activities and make financial supervision more effective. He added that both bills would help create a more modern, competitive and secure financial market, with lower payment costs, stronger consumer protection and wider access to digital financial services.

/a.p./