Rama: Let’s avoid cash, an example, innovation in fintech.

In an extraordinary meeting convened at the Business House on January 31, 2024, Prime Minister Edi Rama emphasized the extraordinary importance of innovation, especially within the financial sector, to lead Albania to a better future. The meeting, which was attended by key actors, including senior executives from second-tier banks, electronic money and financial technology institutions, AKSHI, AKCESK, and the Governor of the Bank of Albania, highlighted the role that fintech companies have in providing technological solutions. Also present at the meeting were the Executive Director of iute Albania, Mr. Akan Ajdini and the Executive Director of iutePay, Mrs. Stela Shkodrani, who shared with the attendees their model, as a case where technology, digitalization and artificial intelligence have facilitated the experience of customers with money.

Prime Minister Rama recognized the importance of combining these technological elements and called for the rapid implementation of the Open Bank protocol by second-level banks, emphasizing the urgency of embracing transformative technologies to promote financial inclusion and efficiency.

iute Albania has continuously advocated for digital transformations and for the financial inclusion of all communities, as an opportunity to provide new financial means to the excluded from the banking system, creating new options for personal development.

During the meeting, the Albanian Government materialized their willingness to address the urgent needs of fintech technology subjects, including the recognition of fintech as an official payment channel by Taxes, the reorganization of integration projects with the subjects of municipal services and treasury payments. This process will be led by Minister Ibrahimaj and a dedicated working group.

In a joint statement, the participants reaffirmed their collective commitment to the further digitization of the financial experience in Albania, where iute Albania offers tangible experience from local and Estonian best practices, to empower Albanian individuals and businesses in an increasingly more digital international.