expanding the network of low - cost touch points to efficiently deliver financial products and services to the public. cash agents and branch - lite units, with their high visibility and convenient setup and functions, allow small business owners and country folk to save on time, travel, and transaction costs. there are currently 1, 874 blus and over 40, 000 cash agents actively operating in the country. in february last year, the bsp issued one of its most pivotal policies for financial inclusion – 3 / 5 bis central bankers'speeches circular 992, which outlines the framework for basic deposit accounts ( bda ). by easing financial and documentary requirements, the bda aims to encourage account ownership among the country ’ s unbanked and low - income population, and provide them an entryway into the country ’ s financial ecosystem. since the issuance of circular 992, the bda has garnered considerable interest from the public and key industry players. to date, there are 77 banks offering bda. we hope and expect an even greater take - up in the coming years as the bda enters the market mainstream. with the advent of the digital age, the bsp has also turned to innovation to take central banking to the next level. as a regulator, we strive to stay ahead of the curve and keep abreast of industry developments and trends. the bsp was in fact one of the early adopters of the “ test - and - learn ” approach, which has allowed the entry of pioneering technologies, business models, and products such as e - money into the domestic market. the test - and - learn approach remains a cornerstone of our innovation mindset and enduring pursuit of an enabling regulatory environment. as the bsp leverages on digital technology to fast - track financial inclusion, it continues to open doors to new players such as fintechs that can diversify and transform the market, as well as pave the way for the banking industry to make the technological leap forward by laying the regulatory groundwork for digital financial services ( dfs ). in 2017, the bsp endorsed the country ’ s first cloud - based banking project for one of the largest rural banks in mindanao. i am pleased to share that this project has been very successful. the bank now fully operates on a cloud - based system and has also participated in a crossborder remittance scheme. we see this project as a model for large - scale replication and one that will encourage greater receptiveness to

gent sejko : economic research - discussions and developments address by mr gent sejko, governor of the bank of albania, to the 11th south - eastern european economic research workshop, organised by the bank of albania, tirana, 4 december 2017. * * * distinguished guests, dear participants, it is a great pleasure to be here with you today. on behalf of the bank of albania, i would like to welcome you to the 11th south - east european economic research workshop and thank you for your continuous devotion and precious contribution. the workshop has been evolving throughout the years, providing a useful platform for researchers, academics and central bankers from the region and beyond, to : present innovative research findings, foster exchange of views, discuss about key developments in money markets, monetary policy implementation and central bank operational frameworks, and develop long - term collaborative relationships. from a strategically point of view, the main goal of economic research is to provide a strong conceptual and empirical basis for policy - making. high - quality research leads to higher credibility of the central bank and improves the quality of its policies. we strongly believe that a qualitative research increases the potential contribution of the central bank on the financial markets, the economy and the society. like in other european central banks, economic research at the bank of albania is an important function in its overall activity, which has proved to be successful in supporting the policy formulation and implementation processes. new methodologies provided by research, based on empirical models, have been adopted as standard tools of policy analysis and forecasts by other departments ( e. g. monetary policy, financial stability, banking supervision, etc. ). this means that the mission, scope and contribution of research, assume a very important place in bank of albania ’ s development strategy. its goals consist in : increasing our knowledge and understanding about domestic, regional and global economy, including the functioning of the financial system ; developing high - quality models, tools and analysis to support better the monetary policy and financial stability ; participating in research international networks ( region and euro system ), to facilitate the exchange of opinions and views with other central banks ; and delivering reliable advice to policymakers and sharing findings and conclusions with market participants, foreign investors and to the public. furthermore, during this year, research at the bank of albania extended its activity to include historical research. the outcome was the conference on “ money and banking in albania, from antiquity to nowadays ”, which brought together many scholars, numismatists, archaeologists