Overdose of abuses at the Bank of Albania

A recent report of the Supreme State Audit makes the financial abuse scandal even deeper. The inspection was made right after the publishing of the vault theft.

The report doesn’t mention the robbery scandal, but it identifies a series of irregularities in this area.

The report says that last year, the Bak of Albania procured 18 million USD of tenders, but only 18% of them were open and competitive. The others had limited participation or direct procurement, with the Bank leaders chosing their private companies and negotiating for the price. But procurements are not the only areas where the SSA found violations.

The report says that there have been other abuses with the agreements of buildings that have been rented by private operators, and for the same place they have paid different prices. The Supreme State Audit says that during this time, the Bank of Albania has constantly ignored the recommendations left by the internal audit, saying that only 16% of them have been implemented.

The Bank Directors have also failed to implement the recommendations of the Supreme State Audit, especially the ones for collecting the penalties of delays for the company that is repairing the main building of the bank. But beside these facts, the SSA notes that the Bank’s Supervisory Council goes against the law, since some of the members are part of other councils and boards, including in private businesses.

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