The Export Bank Branch Office in Tirana in 1934  Cover Image

The Export Bank Branch Office in Tirana in 1934

Author(s): Biljana Mišić Ilić
Subject(s): History
Published by: Institut za noviju istoriju Srbije
Keywords: Yugoslav policy with Albania; Yugoslav banks in Albania; Belgrade Export Bank

Summary/Abstract: Yugoslav policy with Albania was faced with the lack of organizations aimed at improvement of economic cooperation between the two countries, particularly Yugoslav banks in Albania. Favorable circumstances for overcoming this situation appeared in 1933, when Albania, due to financial problems resulted from aggravated relations with Italy, asked Yugoslavia for help. In this respect, in December 1933 the Trade Agreement Annex was signed. One of Agreement's provisions stipulated opening of a Yugoslav bank branch office in Albania. Bank's mission was to facilitate financial and commercial transactions between the two countries. Apart from economic operations, the bank was supposed to have an important political role. It had been envisioned as an institution which would serve as a meeting point for pro-Yugoslav oriented economic and political elites in Albania. The choice was made – Belgrade Export Bank was selected to open its branch office in Tirana, in May 1934. The agreement between the Bank and Yugoslav state stipulated that the state should bear expenses of establishing and organization of the branch office, amounting up to 2 million dinars, as well as the credit for business activities in Albania, up to 8 million dinars. The Export Bank considered its commitment towards the state fulfilled by the very opening of its branch office in Tirana. Therefore its commencing activities were reduced to performing less important tasks. The Yugoslav government, on the other hand, expected the branch office to engage to a much higher extent in all business activities, especially in supplying credits for Albanian merchants. In newspaper articles and in public, Albanians expressed their great pleasure in the act of opening of the bank. On the other hand, Italy was the greatest opponent to the opening of a Yugoslav bank and it tried to expel Yugoslav bank from Albania by all means. In 1934, Export Bank's branch office did not manage to find an adequate position in Albanian economic life.

  • Issue Year: 2006
  • Issue No: 1-2
  • Page Range: 125-145
  • Page Count: 21
  • Language: Serbian