Banks ready to cope with increased money transfer

TIRANA, June 13 – The Albanian Association of Banks said they were ready to cope with a greater influx of money transfers and other transactions following the government’s efforts to lower cash circulating in the market.
The Albanian banking community is enthusiastic about the government’s steps to reduce the informal economy by increasing money circulating through bank channels, according to a statement.
The association noted that the banking system had already coped successfully with the first stage of reducing the circulation of cash and “at the moment they are more than ready to cope with professionalism and competence in carrying out recent government moves in that direction.”
The banking sector represents the most advanced industry within the Albanian economy. Banks have very comprehensive services and a wide network of branches capable of providing any volume of transactions required in the future, said the statement.