In addition to historic documents on central banking and the variety of national banknotes, the exhibition highlights the most recent initiatives of the Bank of Albania on financial education
TIRANA, Oct. 10 – On its 100th anniversary of foundation, the Bank of Albania has opened an exhibition featuring the history of banking in Albania and the coins and banknotes used in Albania from ancient times to present day. The exhibition named “To Albania, the bank is a second victory after freedom” celebrates one of the most important events in Albania’s central banking history: 100 years from the signing of the first concession agreement establishing the National Bank of Albania.
100 years ago, on 4 October 1913, the founder of the modern Albanian state, Ismail Qemali signed, on behalf of the Albanian government, the first concession agreement to establish a central bank in Albania. The concession agreement was also signed by representatives of two of the largest financial groups of the time, of Austria-Hungary and Italy. The concession is the corner stone for the establishment of central banking in Albania.
The exhibition commemorating this important historic date will inform the public on the journey of the currency across Albanian territories and the history of the establishment of the central bank in our country. The exhibition features coins and banknotes in circulation across Albanian territories from antiquity to modern days as well as unique items that testify pre-monetary exchanges in these territories.
In addition to historic documents on central banking and the variety of national banknotes, the exhibition highlights the most recent initiatives of the Bank of Albania on financial education.
The exhibition which opened on October 4, will remain open to the public until Friday, 11 October 2013 at the National Museum in Tirana.
Speaking at the inauguration ceremony, central bank governor Ardian Fullani said “The exhibition brings to the fore for the Albanian public one of the deserved contributions of the father of the country’s Independence, placing him on the pedestal he rightfully earned through the activity and vision of a real statesman. The wise man Ismail Qemali conceived the idea of a central bank based on the principle of freedom, which the Albanians had been longing for in centuries. At the inauguration of the bank, he would say: I think, for Albania, the bank is a second victory, after freedom, both in economic and political terms.”
Albania had its first central bank institution in 1913, one year after declaring its independence. The circulation of the first Albanian currency unit took place in February 1926. The gold franc was set out as the official monetary unit. The currency had its subdivisions (Lek, cents, 1 gold franc equated to 5 Lek and 100 cents) and its manifolds (5, 20 and 100 gold francs).
