From "Welcome to Albania"… to "Welcome to your rip-off" – with blind, deaf and asleep institutions.
In Albania, beyond the significant devaluation of foreign currencies against the lek – especially the euro – there is an even more troubling phenomenon that has persisted for years, in broad daylight: the overwhelming majority of businesses in the country do not follow the official exchange rate set by the Bank of Albania, but instead a self-invented rate — let’s call it “As I please”.
This illegal, unlicensed, but silently "legalized" system operates freely and without oversight, and has become the national reference for currency exchange across all types of businesses. And while the Bank of Albania remains the only first-level bank in the country, the “As I please Bank” operates independently, unlicensed, and with rates that vary depending on each business’s whim.
Let us not forget: “As I please” is a proudly 100% “Made in Albania” invention, worthy of competing with Wall Street or the Dow Jones.
But beyond sarcasm, this is a scandalous and illegal practice: foreign currencies, especially the euro, are exchanged for up to 7 lekë less than the official rate, further devaluing the euro — to the clear detriment of foreign tourists and consumers.
This has been happening openly for years, right under the closed eyes and deaf ears of the responsible authorities. No one intervenes. No one is punished.
📍 To understand this better... Just take €100 in your hand and try to spend it at any business — from bakeries to bars, restaurants, taxis or hotels. Not just in tourist areas, but even in our “European” capital, Tirana. The exchange rate? 3 to 7 lekë lower than the official rate of the Bank of Albania.
E thënë ndryshe: për çdo 100 euro të shpenzuara, një turist humbet nga 300 deri në 700 lekë. Një praktikë abuzive, që vazhdon qetësisht dhe pa ndërprerje, duke sjellë qindra miliona euro përfitime për bizneset, në kurriz të turistëve të huaj dhe të imazhit të vendit tonë.
And in this “parallel economy,” the responsible institutions are not only unaware – they are complicit through their silence and inaction.
⚖️ The law exists – but is not enforced
According to Law No. 9869, dated 04.02.2008, and the regulations of the Bank of Albania, every business that accepts foreign currency payments must either respect the official rate, or clearly display their own rate, within a reasonable margin.
Any deviation for profit is considered a violation and is punishable by law.
But this is only in theory.
In practice, the law is not enforced. No one controls. Businesses set prices “as they please.” No transparency. No posted exchange boards. No oversight. And the tourists – those most affected – are completely uninformed and unprotected.
🛌 The Tax Authority... is also asleep
The institution tasked with monitoring this phenomenon is the General Directorate of Taxes. But it appears to have shut its eyes and ears, becoming one with the silence.
“As I please” continues to operate undisturbed, year after year. And with the kind of tax administration we have, it could go on for centuries.
Meanwhile, I have a few basic questions that come naturally in this situation — addressed to the Bank of Albania and, above all, to the Tax Directorate:
Sa është sasia e eurove që konvertohet çdo vit jashtë sistemit bankar dhe jashtë subjekteve të licencuara për këmbim valutor?
Sa euro apo monedha të tjera të huaja, konvertohen përmes marketeve, bareve, restoranteve, plazheve, taksive dhe çdo subjekti tjetër tregtar, me një kurs “sipas qejfit” dhe pa asnjë faturë tatimore?
– How are these funds reintroduced into the market? How are they justified? – What is the economic damage to the state and the national economy? – Do the Bank of Albania or tax authorities have any official statistics or control mechanisms over this unregulated financial flow?
I believe the answer is no — because we are dealing with a shadow economy, invisible to the state and completely beyond any fiscal accountability.
As long as the state does not intervene, the abuse will continue uninterrupted. Tolerating abuse is just as dangerous as the abuse itself.
And while the Prime Minister has rightly announced a campaign to cleanse public institutions of corrupt or incompetent leaders, this case is one of the clearest examples of where urgent action is needed. There can be no real reform, unless we remove those who have eyes but do not see, have power but do not act.
Unë besoj vërtet se të gjitha reformat që Kryeministri është duke ndërmarrë për Shqipërinë europiane 2030, janë serioze. Ndaj dhe pastrimi duhet të nise pikërisht me të gjithë ata që lejojnë që turistët të manipulohen, euroja të zhvlerësohet dhe imazhi i vendit të dëmtohet në sytë e botës.
🇪🇺 Meanwhile… we seek Europe
Albania aspires to become part of the European Union. But how can we join this family when their currency is devalued at will, without rules, without oversight, without responsibility?
How can we speak of integration, when we can’t even guarantee the basic protection of EU citizens who visit us – or of their currency, which tomorrow is supposed to be ours too?
This abuse of the exchange rate, the absence of punishment, and institutional negligence go against key EU integration chapters, such as:
- Consumer Protection (Chapter 28)
- Free Movement of Capital & Fair Market Operation (Chapter 4)
- Fight Against Informality & Fair Taxation (Chapter 16)
- Institutional Accountability (Chapter 5)
If we truly want integration, our institutions must act. We cannot integrate into Europe while showing legal uncertainty, informality, and disregard for foreigners.
Integration is not just a wish. It is a responsibility.
Europe needs countries that respect the rule of law, protect visitors, and demonstrate integrity.
If we want to be part of it – we must prove it with action. Not just words.
