The Bank of Albania (BoA) has issued a response to the letter from President Bajram Begaj addressed to the Assembly, which criticized the central bank for not taking preventive measures against the microcredit scandal. In a press release, BoA emphasized its dedication to its constitutional mission of maintaining price and financial stability in the country. 
BoA highlighted its achievements, stating that it has significantly reduced the ratio of problem loans, decreasing it fivefold within the last decade. It also pointed out that it has substantially improved the regulatory framework to protect consumers, resulting in loan interest rates decreasing threefold over the last three years.  
BoA clarified its legal mandate, which is to maintain price and financial stability in the country. In September 2015, the "National Plan for the Reduction of Problem Loans" was approved, defining a series of tasks for government institutions and BoA. One task assigned to BoA was the licensing of companies involved in the purchase and management of problem loans, fully supported by the provisions of the Civil Code. 
The Central Bank noted that its 2016 regulation did not impact the licensing of entities already equipped with a lending license. Instead, it ensured that the activity of purchasing problem loans adhered to BoA's regulatory requirements, such as reporting and supervision. For new institutions entering the market with portfolios consisting solely of non-performing loans, the regulation provided necessary licensing changes. 
BoA asserted that it has never allowed or created any illegality and has only worked to improve the supervisory regulatory framework for the purchase of problem loans. Governor Gent Sejko reiterated in the parliamentary committee on the economy that BoA lacks the authority to prohibit or suspend the execution of obligations, a power reserved for the courts. Additionally, BoA does not license or supervise the bailiff service, whether state or private, and has no authority to intervene in its activities. 
The essence of President Begaj's letter called for a parliamentary investigation into BoA's role, alleging that the central bank failed to prevent the exploitation of thousands of customers by a microcredit company. The letter aimed to ensure that similar criminal schemes involving bad loans are not repeated.