April 7, 2023
30 Years of Free Market in the Banking Sector: BALFIN Group supports FEUT’s forum

The performance of the banking sector during 30 years of free market was the focus of the forum organized by the Faculty of Economics of the University of Tirana. The forum gathered bankers, financial experts, researchers, and academics, as well as representatives of national and international institutions. Speakers addressed the field’s potential and the ways to safely navigate toward the future. The forum was supported by BALFIN Group, as part of the activities organized in the framework of the 30th anniversary of its founding by Samir Mane.

In his welcome speech, Prof. Dr. Dhori Kule, Dean of the Faculty of Economics, appraised the special role of banks in the economic and social development of the country over three decades. He emphasized their sustainability and the jobs they bring. In addition, the forum was greeted by the First Deputy Governor of the Bank of Albania, Luljeta Minxhozi, and the General Secretary of the Albanian Banks Association, Spiro Brumbulli. The latter thanked BALFIN Group for organizing such a forum, which gives the public the opportunity to get to know the history and future of the banking system.

Read also: BALFIN Group at the International Conference on Infrastructure and Development in the Region

The panel included Dritan Mustafa, the CEO of Tirana Bank, the first private bank in Albania; Antonio Braghò, Deputy CEO of Intesa SanPaolo Bank; Mirsad Haliti, Member of the Executive Board at ProCredit Bank; and Keler Gjika, Financial Sector Expert at the World Bank. The speakers discussed the challenges and opportunities presented to banks in today’s operational environment. Furthermore, globalization and current economic and political topics at the international level, as well as informality in local conditions were some of the issues on which the speakers gave their perspectives.

“The banking sector is the best-regulated one in the country,” said Dritan Mustafa. Tirana Bank is the first private bank in Albania, whereas its indicators are growing rapidly. The panelists shared with the participants their expertise on sustainable finance and impact investments, illustrating it with the best practices in Albania. According to them, the era of financial technology and digital payments is the reality to which financial institutions must adapt. Lastly, the emphasis was on the young consumers or Generation Z and their interaction with the banking system.