of regulations has aimed at strengthening the capitalisation standards of banking activity. based on the results of our work over the years, as well as the positive conclusions of the self - assessment process we have conducted in collaboration with specialised international institutions, in 2022 we have submitted a request to the european banking authority to receive the official equivalence status with the eu standards. second, we have implemented the recommendations from the moneyval committee of experts of coe in the framework of strengthening the anti - money laundering measures and counter terrorist financing. in this regard, we have exercised our responsibilities for improving the regulatory framework and strengthening of the supervisory process effectiveness. the latest evaluations by the moneyval committee show that the albanian financial industry has a substantial alignment rate with the international requirements of this field. third, we have continued to rigorously monitor the banking sector, through on - site examinations and off - site analyses. assessment of credit portfolio quality, assessment of operational risk, information technology risk, liquidity risk, governance systems risks as well as assessment of transparency with clients have been the focus of examinations. entities which have been under monitoring banks and non - bank financial institutions - follow a prudential approach related to risk management, and overall their activity is in compliance with the regulatory framework. fourth, we have further enhanced our resolution capacity. this result has been archived following the completion and communication of resolution plans, and taking the relevant measures to guarantee their implementation. fifth, we have promoted the development of payment system in albania. in this regard, we have adopted the necessary by - laws which regulate the activity, supervision and management of risks for entities which provide the payment services. in addition, we have maintained a safe and efficient lek - denominated payment infrastructure, and we have expanded the latter with aips euro for the settlement of the domestic euro - denominated transfers in 2022. the operation of aips euro is less costly and time consuming than the previous process. our estimations show that this system has saved around eur 10 million to the albanian enterprises and households in the past year. in response to these developments, the use of electronic payments has considerably increased over 2022, by exceeding the objectives laid down in the albanian national retail payments strategy. in parallel, i would like to point out that - over 2022 - the bank of albania has exercised its legal duties and has fulfilled its institutional engagements throughout the spectrum of 4 / 5 bis - central bankers'speeches its activity. we have supported the european integration process

of albania through the continuous dialogue process with our european partners and by continuing the alignment of the banking legislation with acquis communautaire ; the bank of albania has supplied the albanian economy with qualitative coins and banknotes ; we have intensified the efforts for the financial education of public and expansion of financial inclusion ; we have managed the international reserves in compliance with the best principles of the field ; the bank of albania has contributed in the economic dialogue through advises, publications and scientific conferences ; and we have further developed and expanded the gamma of the financial statistics. last, further progress has been achieved for the improvement of the institution governance, through the update of risk management systems and for ensuring the business continuity. in view of the organised cyber - attacks the country faced with in 2022, the bank of albania has paid special attention to enhancing the sustainability of banking system, financial markets and payment systems operated by the bank of albania, by collaborating with specialised national agencies and international partners. honourable members of parliament, meeting our mission and legal duties, realising the commitments in view of the mediumterm development strategy, and complying with the recommendations left by the parliament of albania for 2022, have been important objectives guiding the activity of the bank of albania throughout 2022. this philosophy will continue to lead our work in 2023 onwards. concluding, allow me to re - emphasise that price stability has been and remains the main mission of the bank of albania. safeguarding monetary and financial stability of albania is the best service we provide to the albanian economy. on the other hand, the growth of production potential of the economy, the strengthening of its resilience against shocks, and the increase of society's welfare requires to further continuing and strengthening the structural reforms. thank you for your attention! 5 / 5 bis - central bankers'speeches