The regulatory framework and respective methodologies are drafted pursuant to the requirements of Basel II, and in accordance with European Union directives. About regulatory amendments, I would like to highlight two of the most important ones, which have now taken the form of a law: The Law on the Functioning of Savings and Loan Associations and their Unions and the Law on Recovery and Resolution in Banks. The first provided for a comprehensive revision of the regulatory framework for the supervision of savings and loan associations, which consists in respective regulations on licencing and risk management in these institutions, as well as the reporting system about their financial activity. The second provides the Bank of Albania with the attributes of the Resolution Authority, through a set of legal instruments. This law is an important qualitative step towards guarantees for safeguarding financial stability in Albania. Moreover, in response to the negative events in the previous year, when the security related to transportation and keeping monetary values was affected, the Bank of Albania has urged the cooperation between banks and law enforcement authorities to take measures for eliminating the deficiencies; it has added on-site inspections to examine the probability of occurrence of a risk; and, has strengthened the regulatory framework for establishing criteria on the minimum physical security. Lastly, a good functioning of the financial system in general and the banking sector in particular has been endorsed by efficient payment systems. The national payment systems operated by the Bank of Albania have operated uninterruptedly and correctly.
You also ordered setting a minimum wage of Rls 3,000 for all Saudi government employees, allocated a monthly amount of Rls 2,000 for job seekers, and raised capital of the Saudi Credit and Saving Bank by Rls 30 billion. The number of family members covered by the social security was increased from 8 to 15 with an allocation of Rls one billion for that purpose. The government subsidies for charity associations rose by 50 percent to Rls 450 million annually, and needy families’ sons and daughters were supported to join  BIS central bankers’ speeches  1  universities through allotting them a portion of seats, facilitating their admission requirements, and exempting them from some tuition fees. This package of honorable royal decrees will enhance the standard of living of the least-income segment of population and promote its ability of saving and, thereby, raise its future productivity and income, and reduce poverty, to which you always attach considerable attention. In the health care arena, you ordered supporting the Ministry of Health with Rls 16 billion in order to carry out the expansion of a number of hospitals and health centers. You increased the maximum limit of the Ministry of Finance’s financing program of private hospitals from Rls 50 million to Rls 200 million. This would hopefully enhance health care services in the Kingdom.