The Bank of Albania has announced it will postpone the repayment of loan instalments until 31 August 2020.
They said that these relief measures have been taken both for the good of the banking system, and to help citizens.
In their notification, they said that they will temporarily suspend loan payments for those that are in difficulties but that this must be agreed with the bank. Those that are still able to pay, should continue to do so.
The Supervisory Council of the Bank of Albania also adopted relief measures for commercial banks which will allow them to restructure the loans of citizens and businesses until 31 December 2020, without incurring penalties.
This postponement comes after a previous three-month extension approved by the Bank in March.
