The Bank of Albania (Albanian: Banka e Shqipërisë) is the central bank of Albania. Its main headquarters are in Tirana, and the bank also has five other branches located in Shkodër, Elbasan, Gjirokastër, Korçë, and Lushnjë, while its Research and Training Center is located in Berat. In the first few years following Albania's declaration of independence on 28 December 1912, the fledgling country lacked a central bank. Under Ismail Qemali's leadership a first central bank was created on 4 October 1913 but it only lasted a few months.: 16–17 In the early 1920s, foreign currency was used for all transactions, generating considerable chaos, and in 1923 municipalities were allowed to issue their own banknotes.: 19 One project floated by the League of Nations envisaged a central bank for Albania as a cooperative venture co-sponsored by various European governments, with Albania itself owning only 10 percent of its share capital.: 20 More information...
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