New central bank law paves way for future euro

The government has proposed new banking rules to get the country ready to join the European Union and eventually adopt the euro.

The draft law updates local regulations to match European standards. It also gives the Bank of Albania more independence to manage the economy and protect financial stability.

Officials stressed that the update does not mean an immediate switch to the European currency. The national currency, the lek, will remain in use until the country officially becomes an EU member and meets all economic targets.