Tirana, July 15 (AENews) – The Bank of Albania has announced that after September 1 it will start to impose service charges to individuals wanting to buy T-bills at the Bank’s counters.

This service was offered for free in past three years. However, this new decision is part of the plans by Bank Governor Adrian Fullani who intends to stop the service in medium term and pass the service to commercial banks.

Individuals count for 6 % of total T-bills market in Albania. Albanian internal debt which is covered by T-bills, amounts to ALL 280 billion, (€2.2 BN).

IMF representative in Tirana and other bankers have criticized Fullani’s plan as not effective.

Currently, if you want to buy T-bills directly you need to invest a minimum of ALL 200,000 (€1600). The Bank is expected to decide soon on the charges to be imposed.

Posted by on Jul 15 2005. Filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry