Lastly, the implementation of the IMF arrangement not only guarantees the stability of the public debt, but also provides us with the possibility for additional funds to withstand any unexpected and unwanted development. The arrangement is an insurance policy, which should assure all the economic actors for the country’s financial soundness. Dear media representatives, Concluding, I would like to re-emphasize Bank of Albania’s commitment to safeguarding the country’s economic and monetary stability. In our judgment, the adopted policy framework provides a sound and coordinated development platform. Pursuant to our legal requirements and the development programme, the Bank of Albania will continue to work on: •  Maintaining price stability and sustaining the country’s development. Under the current scenarios, the monetary policy stance will remain accommodative for several quarters ahead. We are, however, willing to take any additional measures necessary to maintain price stability and the purchasing power of Albanian households. •  Safeguarding the country’s financial stability, in cooperation with all the stakeholders. We are in on-going contact with our international partners and other public agencies. Our analyses show that the banking system is stable. However, even under shocks, we have detailed measure plans available to avoid financial constraints. •  Developing the financial system further through the implementation of measures agreed upon under the FSAP arrangement and provided for in cooperation with the continued IMF assistance. •  Continuous improvement of the Bank of Albania, with a view to enhancing its professionalism, reputation and independence.

There are two categories of awards, both of which are open to Shenzhen and Hong Kong-based regulated financial institutions. The first is for the use of fintech, while the second is for cross-border financial innovation. It is a prestigious award and I would encourage Hong Kong financial institutions to take part and showcase their achievements. The Director-General of OFDS will share with us more details about this exciting competition in the next session. Soft-landing scheme 11. The second initiative is a mutual referral system for fintech firms – this is sometimes called “soft-landing”. Under this programme, the OFDS will provide support to Hong Kong fintech firms that want to establish a presence in Shenzhen, perhaps with a view to using it as a springboard to tap into the enormous market of Mainland China. 12. To better utilise this valuable opportunity, we are working with our strategic partner, Cyberport, on the establishment of cross-border soft-landing facilities in Shenzhen. Such an arrangement would give qualified Hong Kong fintech firms access to the business support from OFDS, which would be helpful for these firms to expand their business to the Mainland. At the same time, Cyberport will leverage on this platform in Shenzhen to assist Mainland fintech companies to establish operations in Hong Kong. 13. Given the geographical proximity between Hong Kong and Shenzhen, I have no doubt that this collaboration will further enhance Hong Kong’s role as the springboard to help homegrown and overseas firms reaching out to the Mainland market. Talent development programme 14.