State Bank of Albania

the sole bank of issue, credit, clearing, and payments of Albania. Founded in 1945, it issues bank notes, controls money circulation, grants short- and long-term credits to all branches of the national economy, and finances capital construction. It is entrusted with the cash fulfillment of the state budget. The bank clears accounts for the entire national economy and accounts with foreign countries and also performs all transactions with gold and foreign currency. In 1957 a differential system of granting credit to well and poorly operating enterprises was introduced. The bank maintains a network of local branches.