Instructions for citizens and businesses on rescheduling loan installments with debtors

Further to previous announcements, the Bank of Albania reiterates that citizens and businesses whose financial situation has been negatively affected by the situation created by Covid-19, and who are simultaneously borrowers from banks or non-bank financial institutions, have the opportunity to apply for the rescheduling of loan installments with these institutions.

First, you need to apply for an extension of your loan installment deadlines by explaining your financial difficulties resulting from the situation to each bank/entity where you have a loan.

In any case, if you do not find understanding with the banks/entities where you have your loan, you can contact the Bank of Albania to resolve this situation by writing to us at the email address. [email protected], specifically stating the name of the bank/entity with which you have a credit relationship, explaining your financial difficulties as a result of the situation created, and making available the full correspondence you have had with the banks/entities.

Source: Bank of Albania.

About the author

Andi Haxhillari is an economist and the founder of AlProfit Consult, an accounting, tax advisory, and financial management firm in Tirana, established in 2015. He holds the professional title of Certified Accountant, certificate no. 359, issued by the Certification Authority of the Ministry of Finance on July 4, 2012. He graduated with a Master's degree in Accounting and as a General Economist from the Faculty of Economics at the University of Tirana. For more than ten years, he has worked as an external economist for small and medium-sized businesses in Albania.

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