sectors in the long term. the banking system, in general, is matured enough to discern between good and bad borrowers, thus minimising problems arising from moral hazard and information asymmetry. yet, the constant financing and the reallocation of capital provide the basis for the development and restructuring of the economy. in this regard, banks would need to identify profitable sectors, which may guarantee added value for the economy and employment, and support them with funds. third, in parallel to the improvement in the allocation of funds, more efforts are needed for the financial inclusion of the population. the improvement in access to finance, coupled with concrete initiatives to deep financial education of the population, with which it is in a complete symbiotic relationship, helps enterprises and households to capitalise their growth potential, by generating profit for themselves and gains for the economy. lastly, modernisation and innovation should be an important and long - term priority of the banking sector. a constant evolution would provide the premises for a sector that is competitive and efficient and avant - garde with regard to technological development in albania. taking into account the insofar substantial impact of the banking sector on the advancement and diffusion of innovation to other sectors, this investment would be necessary and profitable to both the financial industry and the overall albanian society. forward looking, i remain confident that the banking sector will know to rise to these challenges 2 / 3 bis central bankers'speeches and that the conclusions of today ’ s conference will serve as another stepping stone in this regard. thank you! 1 ms. anila denaj, minister of finance and economy 3 / 3 bis central bankers'speeches

gent sejko : the role of central banks and the banking sector on the path to eu welcome address by mr gent sejko, governor of the bank of albania, at the annual conference of the bank of albania, co - organised with the albanian association of banks, tirana, 13 november 2024. * * * honourable minister of finance honourable madam minister of state and chief negotiator, honourable chair of parliamentary committee on economy and finance, dear president of the albanian association of banks shella, dear fellow governors and guests it is a great honour and pleasure to welcome you all to the annual conference of the bank of albania. please allow me, in this occasion to congratulate the albanian association of banks for its 25th anniversary. the albanian association of banks, the co - organiser of this conference, has proven to be a serious collaborating and coordinating platform for the banking industry, in addition to being a visionary institution and our important partner on our journey towards development and modernisation. this conference, the 17th one, is a crucial moment in our annual business schedule as it always offers a solid ground for communicating with our institutional partners, field experts and the public at large. it enables us to look away from the challenges of the present, to consider issues of strategic importance for the sustainable and long - term development of albania, as well as to try - through open and constructive dialogue, to identify the policies and adequate instruments for addressing them. in this view, i would like to highlight that despite the rapid economic and political developments of the year we are leaving behind, the long - term headline from 2024 will be our receiving of a green light and the start - in october - of the official process of negotiations for membership in the union european. this new chapter poses a busy agenda ahead of regulatory, legislative and institutional reforms. their realisation is both a prerequisite for our membership, as well as a major and indispensable step on our way of progress. for this reason, we have decided to dedicate the proceedings of this conference to the role of central banks and the banking sector in the integration process. dear guests, before addressing my views on our conference's topic, i would like to focus briefly on the current status of the albanian economy and its financial system. 1 / 4 bis - central bankers'speeches albania of 2024 offers a completely different economic reality compared to a decade ago, when the country received the status of potential candidate for membership. despite