Konfindustria Worried over Transfer of Albanian Capital Abroad

TIRANA, March 8 – Konfindustria has called on state institutions to immediately prevent the illegal transfer of Albanian financial capital abroad. The statement came on Monday by the head of Konfindustria, Gjergj Buxhuku, following the deepening of the financial crisis in neighboring Greece and the impact it could have in Albania.
Buxhuku has called on government, the central bank and especially the State Intelligence Service (SHISH) to prevent every effort for the illegal exit of Albanian money abroad.
However, he assured all that the Albanian banking system, including Greek-owned banks, was completely protected from foreign effects and the situation in the Greek banking system.
“It should be noted that although a considerable part of the Albanian banking system is under ownership of mother banks in Greece, based on the laws in force in the Republic of Albania, only the created dividend is allowed to go abroad,” said Buxhuku.
Konfindustria says that if a series of institutional and legal actions are taken, it is fully possible for the Albanian economy not to be severely affected by the Greek economy. It also expressed the necessity of benefiting from Albania’s current status of non-liberalization of capital movement, including the banking system.
Hundreds of Greek businesses operate in Albania in important sectors such as banking, telecommunications and construction while a considerable number of Albanian manufacturing companies rely on sale contracts with neighboring Greece.
Greece is Albania’s main foreign investor and the second largest trading partner after Italy.