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TIRANA, July 17 – The central Bank of Albania and the Competition Authority signed a memorandum of understanding on Tuesday for the protection of free competition and efficiency in the banking market, a move that aims to give a push to the quick development of the Albanian banking system.
The memorandum makes possible stronger cooperation between the two institutions and exchanges of information and expertise in the banking system in order to reduce the cases of limiting competition in that market.
Both institutions believe that such a step will aid in the integration efforts into the European and world markets and in order to create a new, competitive banking environment.
