Albania is in the last miles on the road to membership in the European Union. In every European negotiation, behind the political declarations lies the work of technical institutions. Among them, the Bank of Albania occupies a key position in preparing the financial and institutional system for the standards required by the European Union.
Albania has a real opportunity to conclude all chapters of the negotiations for membership in the European Union by 2027, but this requires strong commitment and the fulfillment of certain conditions. The number 2 of the Bank of Albania, Natasha Ahmetaj, in an interview with the media, pointed out that this objective is achievable if intensive work is done, especially in areas such as preventing money laundering and compliance with EU standards.
An important step is the inclusion in the Single Euro Payments Area (SEPA), which is expected to become operational on October 5, 2025. However, to achieve this objective, close cooperation between technical institutions and sustainable policies are necessary, including a strong commitment from the government and support from EU member states.
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Albania is in the last miles on the road to membership in the European Union. In every European negotiation, behind the political declarations lies the work of technical institutions. Among them, the Bank of Albania occupies a key position in preparing the financial and institutional system for the standards required by the European Union. As the central monetary authority, it is directly involved in 9 chapters, in two of which as a leader. How feasible is the objective of successfully concluding the negotiations within 2027? “In my opinion, 2027 is an objective that will naturally require hard work. And I remember that this hard work is in addition to our daily tasks, but it is absolutely feasible,” says Natasha Ahmetaj, second deputy governor of the Bank of Albania.
The “opportunities conditioned by challenges” on the difficult path to membership in the “union” with the ambitious objective of 2030 are also acknowledged by the highest representatives of the Central Bank. For a “yes” instead of a “no”, the country must first meet several conditions.
“Whether it’s about the movement of flows in the real economy or the movement of financial flows… it seems to be achieved by meeting all the requirements of Moneyval to ensure that all of this is done according to standards that prevent money laundering,” says Ahmetaj. Albania in general and citizens and businesses in particular would gain a lot from membership in the European Union. “Albania in a big market. There are all the economic theories that argue why it is better to be part of a competitive market if your standards allow you to participate in that market.”
SEPA
Inclusion in the Single Euro Payments Area is one example. The Second Deputy Governor of the Bank of Albania, Natasha Ahmetaj, also indicates the date when it will be possible to send and receive money at significantly lower costs.
“We are already members of the SEPA area and all banks have submitted their applications, which were accepted of course. We are simply awaiting the procedural deadline for this purpose, which is October 5th. We believe that October 5th is the first date that transactions according to SEPA standards will be operational,” says Ahmetaj.
The role of the Bank of Albania remains technical and long-term: preparing monetary, financial and institutional frameworks that meet EU criteria. In the final stages of negotiations, this work, without much public resonance, creates the necessary foundation for a stable and functional financial system after accession.
