Instructions for citizens and businesses on rescheduling loan installments with debtors

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Historic post, April 11, 2020. This post was a temporary government measure during the 2020 COVID-19 pandemic and is no longer in effect. For current tax or financial matters of your business Contact us here.
Following up on 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 with banks or non-bank financial institutions can apply to these institutions for the rescheduling of their loan installments. Initially, you need to apply for a deferral of loan installment payments, explaining the financial difficulties resulting from the current situation, to each bank or financial institution where you have a loan. In any case, if you cannot reach an agreement with the banks/entities where you have your loan, you can turn to the Bank of Albania to resolve this situation by writing to us at the email address. [email protected], specifically naming the bank/institution with which you have a credit relationship, explaining your financial difficulties as a result of the situation that has arisen, and providing all correspondence you have had with the banks/institutions. 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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