High interest rates; Fullani blames bailiff office
24/05/2011 16:10
Chief territory inspector in Elbasan and his subordinate declared wanted for taking bribes on illegal constructions 23/04 21:19
Ardian Fullani, Albanian Bank Governor, called as unsubstantiated the
comparisons of Albanian Bank rates with those of the region, since the
banking system in Albania has a major problem.
“When we compare Albania with regional countries, we must be aware that we still have many deficiencies in our financial and banking system, regarding collateral registration and execution of the collateral, which is a major problem that requires significant structural reforms”, Fullani declared.
The governor asked the government and the Parliament to make the collateral execution law more functional, also explaining the reasons why this is indispensable.
“It must be very clear for the banks, the investors and the market that when you take a loan and leave something as collateral, this collateral, if the loan will not be paid, will be taken”, Fullani declared.
Fullani said that if the Albanian government will not take urgent measures, the economy will have higher costs.
“If banks will not be able to execute the collateral, its loaning activity is doomed”, Fullani declared.
Fullani released these declarations during the Parliamentary Commission of Economy, representing the annual report of 2010 in presence of only two majority deputies.
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