The central banking authority says that “the reduction of their level will continue to be the focus of the monitoring process for 2018”. But, how will this be achieved in practical terms? Experts of the central bank offer details on what they consider to be an initiative which will start with the identification of people who have borrowed and who cannot pay back their loan. “As part of the national program of addressing NPLs, the Bank of Albania has decided to launch an initiative to promote cooperation between banks in order to address the issue of debtors in financial difficulty.
This initiative will be applied by drafting a special legal framework regarding the possibility of finding an extrajudicial solution concerning debtors who have problems and who have borrowed from several banks”, they say. Meanwhile, they add that this legal framework will act as a mechanism in order for banks to find a sustainable long-term solution for this category of debtors. In other words, all of those who have borrowed from several banks and cannot pay their loan, will engage in negotiations with these banks to find a way of paying these debts without the need to take the case to court or to a debt collector.