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146-624: The bank was founded in 1925 in Rome as the National Bank of Albania ( Albanian : Banka Kombëtare e Shqipnis , Italian : Banca Nazionale d’Albania , Albanian acronym BKS or BKSH), replaced in 1945 by the state-owned Albanian State Bank based in Tirana ( Albanian : Banka e Shtetit Shqiptar , BSS or BSHSH), before taking its current name in 1992. In the first few years following Albania's declaration of independence on 28 December 1912,

292-460: A civil war against the Senate and Pompey. After his victory, Caesar established himself as dictator for life . His assassination in 44 BC led to a second Triumvirate among Octavian (Caesar's grandnephew and heir), Mark Antony and Lepidus , and to a final civil war between Octavian and Antony. In 27 BC, Octavian was named Augustus and princeps , founding the principate ,

438-523: A diarchy between the princeps and the senate. Over time, the new monarch came to be known as the imperator (hence emperor ), meaning "commander". During the reign of Nero , two thirds of the city was ruined after the Great Fire of Rome , and the persecution of Christians commenced. Rome's empire reached its greatest expansion in the second century under the Emperor Trajan . Rome

584-467: A senatore or patrizio . In the 12th century, this administration, like other European cities, evolved into the commune , a new form of social organisation controlled by the new wealthy classes. Pope Lucius II fought against the Roman commune, and the struggle was continued by his successor Pope Eugenius III : by this stage, the commune, allied with the aristocracy, was supported by Arnaldo da Brescia ,

730-468: A series of civil wars between rival claimants to power resulted in the unification of the empire under Constantine the Great in 324. Hereditary succession was restored, but the east–west division was maintained. Constantine undertook a major reform of the bureaucracy, not by changing the structure but by rationalising the competencies of the several ministries. The so-called Edict of Milan of 313, actually

876-456: A Yugoslav consortium of Belgrade Cooperative Bank , Serbian Bank in Zagreb , Adriatic-Danubian Bank and Serbo-Albanian Bank (10.1 percent), Mufid's brother Ajet Libohova and Ugo Viali (8.1 percent each), Banca Commerciale Italiana , Banca Nazionale di Credito , Banco di Roma , and Massimo Aurelio (6.1 percent each), Vincenzo Azzolini and Banque Belge pour l'Étranger (5 percent each), with

1022-575: A crusade against the Colonna family and, in 1300, called for the first Jubilee of Christianity , which brought millions of pilgrims to Rome. However, his hopes were crushed by the French king Philip the Fair , who took him prisoner and held him hostage for three days at Anagni . The Pope was able to return to Rome, but died a month later, it was said of shock and grief. Afterwards, a new pope faithful to

1168-786: A few years later) as well as offices in Oued Zem and El Ksar. Relations with the Spanish protectorate authorities had been suspended in 1920 but restarted in 1928, allowing the opening of new branches in Arcila (now Asilah ) and Villa Sanjurjo (now Al Hoceima ). A branch was opened in March 1930 in Beni Ansar , and another one in 1950 in Agadir . In Tangier, the State Bank's head office

1314-419: A fragment of a letter from his co-emperor Licinius to the governors of the eastern provinces, granted freedom of worship to everyone, including Christians, and ordered the restoration of confiscated church properties upon petition to the newly created vicars of dioceses. He funded the building of several churches and allowed clergy to act as arbitrators in civil suits (a measure that did not outlast him but which

1460-420: A fringe hypothesis. Traditional stories handed down by the ancient Romans themselves explain the earliest history of their city in terms of legend and myth . The most familiar of these myths, and perhaps the most famous of all Roman myths , is the story of Romulus and Remus , the twins who were suckled by a she-wolf . They decided to build a city, but after an argument, Romulus killed his brother and

1606-520: A large area in Rome, and the city has one of the largest areas of green space among European capitals. The most notable part of this green space is represented by the large number of villas and landscaped gardens created by the Italian aristocracy. While most of the parks surrounding the villas were destroyed during the building boom of the late 19th century, some of them remain. The most notable of these are

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1752-464: A main role in the transmission of monetary policy in the banking system. The main reason of using open market operations is the short-term liquidity management of the banking system and trying to stabilize market interest rates. The standing facilities are tools available to banks at their own initiative without restriction under normal circumstances. They consist of tools providing and absorbing overnight liquidity. The interest rates and these tools provide

1898-626: A monk who was a religious and social reformer. After the pope's death, Arnaldo was taken prisoner by Adrianus IV , which marked the end of the commune's autonomy. Under Pope Innocent III , whose reign marked the apogee of the papacy, the commune liquidated the senate, and replaced it with a Senatore , who was subject to the pope. In this period, the papacy played a role of secular importance in Western Europe , often acting as arbitrators between Christian monarchs and exercising additional political powers. In 1266, Charles of Anjou , who

2044-516: A passage in which the money market interest rates can fluctuate. The minimum reserve requirements serve as a tool targeting at regulating the banking system liquidity and stabilizing the money market interest rates. The amount of minimum reserves to be held by each commercial bank is determined in relation to its reserve base applying the required reserve ratio. This ratio is also the same for the Lek and foreign currency liabilities. The current required ratio

2190-633: A population of 4,355,725 residents, is the most populous metropolitan city in Italy. Its metropolitan area is the third-most populous within Italy. Rome is located in the central-western portion of the Italian Peninsula , within Lazio ( Latium ), along the shores of the Tiber Valley . Vatican City (the smallest country in the world and headquarters of the worldwide Catholic Church under

2336-499: A rate derived from the base rate of the European Central Bank and Federal Reserve. The Bank of Albania supervises and regulates all activity of banks and institutions operating banking activity within the country. The Bank of Albania enforces rules on the establishment of banks and institutions and licenses them. The bank also supervises and monitors all activity of these institutions to ensure that they follow and obey

2482-589: A very rare occurrence (the most recent ones were in 2018, 2012 and 1986). State Bank of Morocco The State Bank of Morocco ( French : Banque d'État du Maroc ) was a quasi- central bank established in 1907 following the Algeciras Conference , to stabilize the Moroccan currency and serve as a vehicle for European and especially French influence in the Sultanate of Morocco . Following

2628-554: A warrior pope, to Alexander VI , immoral and nepotist , from Julius II , soldier and patron, to Leo X , who gave his name to this period ("the century of Leo X"), all devoted their energy to the greatness and the beauty of the Eternal City and to the patronage of the arts. During those years, the centre of the Italian Renaissance moved to Rome from Florence. Majestic works, as the new Saint Peter's Basilica ,

2774-541: Is 10 percent. The Bank of Albania's minimum reserve system allows banks to use the averaging provisions. Banks are allowed to 40 percent if their required reserve. They must show the average of the reserve balance will not be less than the reserve requirement by the end of the maintenance period. Required reserves denominated in the Albanian currency are reimbursed at a rate derived from the base rate, while holdings of required reserves in foreign currency are also reimbursed at

2920-463: Is a wide consensus that the city developed gradually through the aggregation (" synoecism ") of several villages around the largest one, placed above the Palatine. This aggregation was facilitated by the increase of agricultural productivity above the subsistence level , which also allowed the establishment of secondary and tertiary activities . These, in turn, boosted the development of trade with

3066-405: Is above 21 °C (70 °F) during the day and 9 °C (48 °F) at night. In the coldest month, January, the average temperature is 12.6 °C (54.7 °F) during the day and 2.1 °C (35.8 °F) at night. In the warmest month, August, the average temperature is 31.7 °C (89.1 °F) during the day and 17.3 °C (63.1 °F) at night. December, January and February are

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3212-585: Is also a notable pine wood at Castelfusano , near Ostia. Rome also has a number of regional parks of much more recent origin, including the Pineto Regional Park and the Appian Way Regional Park. There are also nature reserves at Marcigliana and at Tenuta di Castelporziano. Rome has a Mediterranean climate ( Köppen climate classification : Csa ), with hot, dry summers and mild, humid winters. Its average annual temperature

3358-622: Is another large green space: it has few trees but is overlooked by the Palatine and the Rose Garden ('roseto comunale'). Nearby is the lush Villa Celimontana , close to the gardens surrounding the Baths of Caracalla. The Villa Borghese garden is the best known large green space in Rome, with famous art galleries among its shaded walks. Overlooking Piazza del Popolo and the Spanish Steps are the gardens of Pincio and Villa Medici . There

3504-562: Is based on the amount of pork, 3,629,000 lbs. distributed to poorer Romans during five winter months at the rate of five Roman lbs per person per month, enough for 145,000 persons or 1/4 or 1/3 of the total population. Grain distribution to 80,000 ticket holders at the same time suggests 400,000 (Augustus set the number at 200,000 or one-fifth of the population). After the fall of the Western Roman Empire in AD ;476, Rome

3650-559: Is generally thought the population of the city until AD 300 was 1 million (estimates range from 2 million to 750,000) declining to 750–800,000 in AD 400, then 450–500,000 in AD 450 and down to 80–100,000 in AD 500 (though it may have been twice this). The Bishop of Rome, called the Pope , was important since the early days of Christianity because of the martyrdom of both the apostles Peter and Paul there. The Bishops of Rome were also seen (and still are seen by Catholics) as

3796-441: Is possible that the name Romulus was actually derived from Rome itself. As early as the 4th century, there have been alternative theories proposed on the origin of the name Roma . Several hypotheses have been advanced focusing on its linguistic roots which however remain uncertain: Rome has also been called in ancient times simply "Urbs" (central city), from urbs roma , or identified with its ancient Roman initialism of SPQR ,

3942-643: Is the capital city of Italy . It is also the capital of the Lazio region , the centre of the Metropolitan City of Rome Capital , and a special comune (municipality) named Comune di Roma Capitale . With 2,860,009 residents in 1,285 km (496.1 sq mi), Rome is the country's most populated comune and the third most populous city in the European Union by population within city limits. The Metropolitan City of Rome, with

4088-652: The Age of Enlightenment , new ideas reached the Eternal City, where the papacy supported archaeological studies and improved the people's welfare. But not everything went well for the Church during the Counter-Reformation. There were setbacks in the attempts to assert the Church's power, a notable example being in 1773 when Pope Clement XIV was forced by secular powers to have the Jesuit order suppressed . The rule of

4234-694: The Banque de Paris et des Pays-Bas , simultaneously involved in the sovereign debt restructuring that led in 1904 to the creation of the Moroccan Debt Administration , worked with the French government to create a state bank that would be nominally placed under the authority of the Sultan but practically under full French ownership and control. Even though that project failed following the First Moroccan Crisis of 1905, when

4380-529: The Dominate , derived from his title of dominus ("lord"). His most marked feature was the unprecedented intervention of the State down to the city level: whereas the State had submitted a tax demand to a city and allowed it to allocate the charges, from his reign the State did this down to the village level. In a vain attempt to control inflation, he imposed price controls which did not last. Diocletian divided

4526-618: The Economic and Financial Organization of the League of Nations envisaged a central bank for Albania as a cooperative venture co-sponsored by various European governments, with Albania itself owning only 10 percent of its share capital. With the proclamation of the Albanian Republic and consolidation of power by strongman Ahmed Zogu , conditions appeared that enabled the creation of a more stable financial infrastructure, albeit at

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4672-1233: The Food and Agriculture Organization (FAO), the World Food Programme (WFP), the International Fund for Agricultural Development (IFAD) and the UN System Network on Rural Development and Food Security . The city also hosts the European Union (EU) Delegation to the United Nations (UN) and the Secretariat of the Parliamentary Assembly of the Union for the Mediterranean (UfM) as well as the headquarters of several Italian multinational companies, such as Eni , Enel , TIM , Leonardo , and banks such as BNL . Numerous companies are based within Rome's EUR business district, such as

4818-679: The Gauls , Osci - Samnites and the Greek colony of Taranto , allied with Pyrrhus , king of Epirus ) whose result was the conquest of the Italian peninsula , from the central area up to Magna Graecia . The 3rd and 4th century BC saw the establishment of Roman hegemony over the Mediterranean and the Balkans through the three Punic Wars (264–146 BC) fought against Carthage and

4964-518: The German Empire attempted to prevent France from establishing a protectorate over Morocco , it provided the blueprint for the subsequent creation of the State Bank of Morocco as an international joint venture. The decision to create the State Bank of Morocco was eventually made at the Algeciras Conference , which took place in early 1906 in Algeciras , Spain, with the aim to determine

5110-708: The Hassani rial and the French franc, and in October of that year, the fixed exchange rate was abandoned. By that time, there was a campaign by pro-Algerian interests and the French Finance Ministry for the money issuance privilege in Morocco to be transferred to the Banque de l'Algérie, thus achieving monetary unification of French North Africa . The French Foreign Ministry, the protectorate authorities and

5256-576: The Italian protectorate of Albania (1939–1943) , the National Bank continued its activity but came under increased commercial competition from Banco di Napoli and Banca Nazionale del Lavoro , which developed their operations in Albania. The National Bank opened a branch in Prizren which had then been annexed to Albania. It also considered extending its activity to Montenegro , but that project

5402-692: The Medina quarter , inherited from the Comptoir national d'escompte as in Tangier. On 30 October 1915, Hubert Lyautey inaugurated a new building on place de France , now United Nations Square . Around 1920, that building was expanded with a Moorish Revival tiled roof. It was demolished in the second half of the 20th century after the creation nearby of the Avenue des Forces Armées Royales , under new urban planning proposed by Michel Écochard . Meanwhile,

5548-644: The Netherlands Trading Society ; Banco de Portugal ; the Banque du Nord for Russia; Bank of Spain ; Skandinaviska Banken for Sweden; and Glyn, Mills, Currie & Co. for the UK. As a consequence, the Banque de Paris et des Pays-Bas controlled a total of 21.4 percent (3/14) of the shares, giving it pre-eminence from the outset. The State Bank had some of the functions of a central bank and in 1911 started to mint silver coins ( Moroccan rials , also known as Hassani), and to issue banknotes. It had

5694-513: The Roman Empire , and is regarded by many as the first-ever Imperial city and metropolis . It was first called The Eternal City ( Latin : Urbs Aeterna ; Italian : La Città Eterna ) by the Roman poet Tibullus in the 1st century BC, and the expression was also taken up by Ovid , Virgil , and Livy . Rome is also called Caput Mundi (Capital of the World). After the fall of

5840-605: The San Lorenzo district was subject to Allied bombing raids , resulting in about 3,000 fatalities and 11,000 injuries, of whom another 1,500 died. Mussolini was arrested on 25 July 1943 . On the date of the Italian Armistice 8 September 1943 the city was occupied by the Germans. Allied bombing raids continued throughout 1943 and extended into 1944. Rome was liberated on 4 June 1944. Rome developed greatly after

5986-653: The Sistine Chapel and Ponte Sisto (the first bridge to be built across the Tiber since antiquity, although on Roman foundations) were created. To accomplish that, the Popes engaged the best artists of the time, including Michelangelo , Perugino , Raphael , Ghirlandaio , Luca Signorelli , Botticelli , and Cosimo Rosselli . The period was also infamous for papal corruption, with many Popes fathering children, and engaging in nepotism and simony . The corruption of

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6132-590: The Villa Borghese , Villa Ada , and Villa Doria Pamphili . Villa Doria Pamphili is west of the Gianicolo hill, comprising some 1.8 km (0.7  sq mi ). The Villa Sciarra is on the hill, with playgrounds for children and shaded walking areas. In the nearby area of Trastevere, the Orto Botanico (Botanical Garden) is a cool and shady green space. The old Roman hippodrome (Circus Maximus)

6278-408: The founding of Rome at around 753 BC, the site has been inhabited for much longer, making it a major human settlement for over three millennia and one of the oldest continuously occupied cities in Europe. The city's early population originated from a mix of Latins , Etruscans , and Sabines . Eventually, the city successively became the capital of the Roman Kingdom , the Roman Republic and

6424-422: The independence of Morocco , it was replaced in 1959 by the newly created Banque du Maroc , known since 1987 as Bank Al-Maghrib . Projects for a bank that would stabilize the Moroccan monetary situation and promote trade and development in the Sultanate started being made in the 1880s, with various initiatives promoted by British, French, Tangier Jewish, and German businessmen and diplomats. From 1901 to 1905,

6570-543: The western and eastern empires respectively. The seat of government in the Western Roman Empire was transferred to Ravenna in 408, but from 450 the emperors mostly resided in Rome. Rome, which had lost its central role in the administration of the empire, was sacked in 410 by the Visigoths led by Alaric I , but very little physical damage was done, most of which was repaired. What could not be so easily replaced were portable items such as artwork in precious metals and items for domestic use (loot). The popes embellished

6716-467: The 1950s. In 1958, the newly independent Moroccan government started negotiations with France and the State Bank to reclaim for itself the right to issue money. Decree n° 1.59.233 of 30 June 1959 created the Banque du Maroc. The new central bank took over the issuance of money the next day, and replaced the State Bank of Morocco, while essentially keeping its Moroccan infrastructure and staff. The State Bank of Morocco's residual French operations, including

6862-544: The 1970s and remodeled in the late 2000s to better fit with the historic city's environment. In June 2010, the bank also purchased the former Hotel Dajti , a prominent building in the center of Tirana not very far from its own head office, to host functions open to stakeholders and the public. In the early 2010s, the Tirana head office building itself was renovated and expanded on a design by the Italian firm Petreschi Architects . Rome Rome ( Italian and Latin : Roma , pronounced [ˈroːma] )

7008-480: The Act of Algeciras by the participating nations, the bank's constituent general assembly was held at the Bank of France in Paris under Pallain's chairmanship and officially established it on 25 February 1907 as a limited company under French law, with registered office ( French : siège social ) in Tangier but whose board of directors would meet in Paris. In practice, most board meetings were only attended by three directors, which further reinforced French control over

7154-423: The Balkans made serious uncoordinated incursions that were more like giant raiding parties rather than attempts to settle. The Persian Empire invaded from the east several times during the 230s to 260s but were eventually defeated. The civil wars ended in 285 with the final victory of Diocletian , who undertook the restoration of the State. He ended the Principate and introduced a new authoritarian model known as

7300-401: The Bank of Albania, but through commercial banks. The monetary policy of Albania is an exclusive right of the Bank of Albania. The Policy is designed to achieve the primary goal, to achieve and maintain price stability. The architect of coming up with the policy is based on, the respective legal framework, the academic background employed for modeling and predicting inflation on suitability of

7446-427: The Banque de Paris et des Pays-Bas pushed back against that project. In March 1920, the State Bank demonetized the Hassani and issued notes and coins denominated in Moroccan franc . An operations account ensured that from December 1921 the Moroccan and French francs would trade at parity. That same month, the Banque de l'Algérie acquired the block of State Bank shares formerly controlled by Germany. Eventually, however,

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7592-568: The Church. Under the popes from Pius IV to Sixtus V , Rome became the centre of a reformed Catholicism and saw the building of new monuments which celebrated the papacy. The popes and cardinals of the 17th and early 18th centuries continued the movement by having the city's landscape enriched with baroque buildings. This was another nepotistic age; the new aristocratic families ( Barberini , Pamphili , Chigi , Rospigliosi , Altieri , Odescalchi ) were protected by their respective popes, who built huge baroque buildings for their relatives. During

7738-405: The Empire in the west , which marked the beginning of the Middle Ages , Rome slowly fell under the political control of the Papacy , and in the 8th century, it became the capital of the Papal States , which lasted until 1870. Beginning with the Renaissance , almost all popes since Nicholas V (1447–1455) pursued a coherent architectural and urban programme over four hundred years, aimed at making

7884-412: The French was elected, and the papacy was briefly relocated to Avignon (1309–1377). During this period Rome was neglected, until a plebeian man, Cola di Rienzo , came to power. An idealist and a lover of ancient Rome, Cola dreamed about a rebirth of the Roman Empire: after assuming power with the title of Tribuno , his reforms were rejected by the populace. Forced to flee, Cola returned as part of

8030-463: The Gothic siege of 537, the population dropped to 30,000 but had risen to 90,000 by the papacy of Gregory the Great . The population decline coincided with the general collapse of urban life in the West in the fifth and sixth centuries, with few exceptions. Subsidized state grain distributions to the poorer members of society continued right through the sixth century and probably prevented the population from falling further. The figure of 450,000–500,000

8176-470: The Great (which by then was in a dilapidated state) was demolished and a new one begun. The city hosted artists like Ghirlandaio , Perugino , Botticelli and Bramante , who built the temple of San Pietro in Montorio and planned a great project to renovate the Vatican . Raphael, who in Rome became one of the most famous painters of Italy, created frescoes in the Villa Farnesina , the Raphael's Rooms , plus many other famous paintings. Michelangelo started

8322-399: The Greek colonies of southern Italy (mainly Ischia and Cumae ). These developments, which according to archaeological evidence took place during the mid-eighth century BC, can be considered as the "birth" of the city. Despite recent excavations at the Palatine hill, the view that Rome was founded deliberately in the middle of the eighth century BC, as the legend of Romulus suggests, remains

8468-416: The Italian Republic. In 2019, Rome was the 14th most visited city in the world, with 8.6 million tourists, the third most visited city in the European Union, and the most popular tourist destination in Italy. Its historic centre is listed by UNESCO as a World Heritage Site . The host city for the 1960 Summer Olympics , Rome is also the seat of several specialised agencies of the United Nations , such as

8614-428: The Kings was built on seven hills: the Aventine Hill , the Caelian Hill , the Capitoline Hill , the Esquiline Hill , the Palatine Hill , the Quirinal Hill , and the Viminal Hill . Modern Rome is also crossed by another river, the Aniene , which flows into the Tiber north of the historic centre. Although the city centre is about 24 km (15 mi) inland from the Tyrrhenian Sea , the city territory extends to

8760-413: The Papal States were reconstituted by a decision of the Congress of Vienna of 1814. In 1849, a second Roman Republic was proclaimed during a year of revolutions in 1848 . Two of the most influential figures of the Italian unification , Giuseppe Mazzini and Giuseppe Garibaldi , fought for the short-lived republic. Rome then became the focus of hopes of Italian reunification after the rest of Italy

8906-435: The Popes and the huge expenses for their building projects led, in part, to the Reformation and, in turn, the Counter-Reformation . Under extravagant and rich popes, Rome was transformed into a centre of art, poetry, music, literature, education and culture. Rome became able to compete with other major European cities of the time in terms of wealth, grandeur, the arts, learning and architecture. The Renaissance period changed

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9052-399: The Popes was interrupted by the short-lived Roman Republic (1798–1800), which was established under the influence of the French Revolution . The Papal States were restored in June 1800, but during Napoleon 's reign Rome was annexed as a Département of the French Empire : first as Département du Tibre (1808–1810) and then as Département Rome (1810–1814). After the fall of Napoleon,

9198-447: The Romans expelled the last king from their city and established an oligarchic republic led by two annually-elected consuls . Rome then began a period characterised by internal struggles between patricians (aristocrats) and plebeians (small landowners), and by constant warfare against the populations of central Italy: Etruscans, Latins, Volsci , Aequi , and Marsi . After becoming master of Latium , Rome led several wars (against

9344-413: The State Bank would recruit Spanish staff in the Spanish protectorate and French staff in the French one, without mutual competition. Under the new protectorate regime, the State Bank of Morocco suffered competition from the Banque de l'Algérie , whose banknotes had become legal tender in Morocco during World War I , together with French ones. By 1919, it was unable to maintain a fixed parity between

9490-491: The State Bank's CEO Georges Desoubry. Sultan Mohammed V also visited it on 22 August 1938. That building is now the local branch of Bank Al-Maghrib. In Rabat, the State Bank purchased land in September 1921 for a building that would be representative of the city's enhanced status as Morocco's new capital. The state-of-the-art building, designed by Auguste Cadet  [ fr ] and Edmond Brion and in which central administrative functions were transferred from Tangier,

9636-432: The State Bank's board of directors met, it was initially established at 3, rue Volney. On 4 December 1922 it moved to 33 rue La Boétie , where the bank also opened a branch office for its French customers and stayed until at least the late 1930s. By 1950, it had relocated to 59 quai d'Orsay , in the former Parisian mansion of aristocrat Robert de Vogüé  [ fr ] who had died there in 1936. The latter building

9782-407: The State Bank's new branch in Agadir (1951–52) as well as its new headquarters in Tangier. The Agadir branch was repurposed as a museum in 2022. The branches in Fez and Meknes were designed in the early 1920s by architect René Canu. A new building for the Tétouan branch, designed by architect José de Larrucea Garma, was inaugurated in 1930. The State Bank of Morocco's key officers were

9928-417: The Third Century , during which numerous generals fought for power and the central authority in Rome weakened dramatically. Around the same time, the Plague of Cyprian ( c. 250–270) afflicted the Mediterranean. Instability caused economic deterioration, and there was a rapid rise in inflation as the government debased the currency in order to meet expenses. The Germanic tribes along the Rhine and north of

10074-411: The U.S. authorities viewed as an act of collaboration with Vichy France orchestrated by the Bank of France in Paris. In 1946, the State Bank received an extension for 20 years of its currency issuance monopoly. By 1947, the Banque de Paris et des Pays-Bas owned 57.2 percent of the State Bank's capital and could appoint eight of its 14 Board members. The State Bank was highly profitable throughout

10220-412: The bank inaugurated a new Albanian central office on what is now Skanderbeg Square in the capital Tirana , which took over the central functions that were previously in Durrës. The Tirana building was also designed by Morpurgo, who worked on it between 1930 and 1936. In addition, Morpurgo designed the bank's branches in Korçë , Shkodër , and Vlorë . During the Communist era, the State Bank kept using

10366-432: The bank's Casablanca branch which Brion had completed in 1937. The original headquarters in the Medina later became a commercial venue for the display of Moroccan handicrafts. In 2017, it was renovated and repurposed as a hotel branded Palais Zahia . The 1952 building, now the Tangier branch of Bank Al-Maghrib , was comprehensively renovated in 2020. In Casablanca, the State Bank soon moved out of its initial branch in

10512-609: The bank's day-to-day affairs. The State Bank's capital was initially divided into 14 equal blocks of shares (7.14 percent each). Each of the 12 participating countries (Austria-Hungary, Belgium, France, Germany, Italy, the Netherlands, Portugal, Russia, Spain, Sweden, the United Kingdom, and Morocco itself; the United States did not take part) received one block; the two remaining blocks of shares were reserved for

10658-403: The birth of the conclave . In this period the city was also shattered by continuous fights between the aristocratic families: Annibaldi , Caetani , Colonna , Orsini , Conti , nested in their fortresses built above ancient Roman edifices, fought each other to control the papacy. Pope Boniface VIII , born Caetani, was the last pope to fight for the church's universal domain ; he proclaimed

10804-507: The branch had moved in 1937 to its iconic location on the northern side of the main square of colonial Casablanca, now Mohammed V Square . The new building's initial design was by architects Auguste Cadet  [ fr ] and Edmond Brion , before their collaboration ended in 1935; it was completed by Brion alone, in a characteristic mix of art deco and Moorish Revival architecture . The inauguration ceremony on 16 October 1937 featured speeches by Resident-general Charles Noguès and by

10950-580: The buildings erected for its predecessor during the interwar period. In 1993, the newly established Banka Kombëtare Tregtare (BKT) took over the former regional branch buildings, while the central bank kept the Tirana head office and later established new regional branches of its own. On 10 February 2010, the Bank of Albania inaugurated its training and research center in Berat , in a building originally erected in

11096-503: The capital of 12.5 million gold francs, but they turned out to not have the capacity or willingness for that. As a result, Italian interests ended up holding more than half of the total. Specifically, the bank was founded with 100,000 founders' shares, entirely in Italian hands and largely controlled by Credito Italiano , and 495,000 common shares dispersed among various investors. These included Eqrem Vlora (11.7 percent), Nexhat Pasha Vlora (10.5 percent), Basler Handelsbank (10.1 percent),

11242-402: The chairman of the board ( French : président du conseil ) and chief executive ( French : directeur général ). Throughout the bank's existence, both positions were effectively selected by and from the Banque de Paris et des Pays-Bas , of which the State Bank's chairman was typically a vice chairman of the board. Among the other board members, Marcus Wallenberg Sr. represented Sweden from

11388-515: The city centre in order to build wide avenues and squares which were supposed to celebrate the fascist regime and the resurgence and glorification of classical Rome. The interwar period saw a rapid growth in the city's population which surpassed one million inhabitants soon after 1930. During World War II, due to the art treasuries and the presence of the Vatican, Rome largely escaped the tragic destiny of other European cities. However, on 19 July 1943,

11534-599: The city the artistic and cultural centre of the world. In this way, Rome first became one of the major centres of the Renaissance and then became the birthplace of both the Baroque style and Neoclassicism . Famous artists, painters, sculptors, and architects made Rome the centre of their activity, creating masterpieces throughout the city. In 1871, Rome became the capital of the Kingdom of Italy , which, in 1946, became

11680-568: The city took his name. According to the Roman annalists , this happened on 21 April 753 BC. This legend had to be reconciled with a dual tradition, set earlier in time, that had the Trojan refugee Aeneas escape to Italy and found the line of Romans through his son Iulus , the namesake of the Julio-Claudian dynasty . This was accomplished by the Roman poet Virgil in the first century BC. In addition, Strabo mentions an older story, that

11826-624: The city was affected by the divisions which rocked the Church. In 1418, the Council of Constance settled the Western Schism , and a Roman pope, Martin V , was elected. This brought to Rome a century of internal peace, which marked the beginning of the Renaissance . The ruling popes until the first half of the 16th century, from Nicholas V , founder of the Vatican Library , to Pius II , humanist and literate, from Sixtus IV ,

11972-554: The city was an Arcadian colony founded by Evander . Strabo also writes that Lucius Coelius Antipater believed that Rome was founded by Greeks. After the foundation by Romulus according to a legend, Rome was ruled for a period of 244 years by a monarchical system , initially with sovereigns of Latin and Sabine origin, later by Etruscan kings. The tradition handed down seven kings: Romulus , Numa Pompilius , Tullus Hostilius , Ancus Marcius , Tarquinius Priscus , Servius Tullius and Lucius Tarquinius Superbus . In 509 BC,

12118-471: The city with large basilicas, such as Santa Maria Maggiore (with the collaboration of the emperors). The population of the city had fallen from 800,000 to 450–500,000 by the time the city was sacked in 455 by Genseric , king of the Vandals . The weak emperors of the fifth century could not stop the decay, leading to the deposition of Romulus Augustus , who resided on Ravenna, on 4 September 476. This marked

12264-455: The coldest months, with a daily mean temperature of approximately 8 °C (46 °F). Temperatures during these months generally vary between 10 and 15 °C (50 and 59 °F) during the day and between 3 and 5 °C (37 and 41 °F) at night, with colder or warmer spells occurring frequently. Snowfall is rare but not unheard of, with light snow or flurries occurring on some winters, generally without accumulation, and major snowfalls on

12410-408: The concession of the State Bank. Prodded by both the French and British governments, British financier Ernest Cassel reluctantly provided support for the new venture. A committee chaired by Bank of France Governor Georges Pallain  [ fr ] was tasked with drafting the State Bank's statute and a regulation defining its relation with the Moroccan government. Following ratification of

12556-616: The consortium associated with the Moroccan debt restructuring of 1904 , in practice controlled by the Banque de Paris et des Pays-Bas . Each of the European countries, in turn, transferred their shares to a financial institution that would manage them and exercise the voting rights: these were Creditanstalt for Austria-Hungary; Société Générale de Belgique for Belgium; the Banque de Paris et des Pays-Bas for France; Mendelssohn & Co. for Germany; Società Bancaria Italiana for Italy;

12702-436: The currency in circulation and credit within the economy. This role is important because allowing too much currency into circulation would lead to inflation and allowing too little currency in circulation would prevent the economy from growing. As acting currency manager, the Bank of Albania pursues to reach equilibrium between two extremes, which is to promote economic growth by maintaining price stability. The Bank also acts as

12848-531: The decoration of the ceiling of the Sistine Chapel and executed the famous statue of the Moses for the tomb of Julius II. Its economy was rich, with the presence of several Tuscan bankers, including Agostino Chigi , who was a friend of Raphael and a patron of arts. Before his early death, Raphael also promoted for the first time the preservation of the ancient ruins. The War of the League of Cognac caused

12994-546: The empire in 286, ruling over the eastern half from Nicomedia , while his co-emperor Maximian ruled the western half from Mediolanum (when not on the move). The empire was further divided in 293, when Diocletian named two caesar , one for each augustus (emperor). Diocletian tried to turn into a system of non-dynastic succession, similar to the Antonine dynasty. Upon abdication in 305, both caesars succeeded and they, in turn, appointed two colleagues for themselves. However,

13140-536: The end of the Western Roman Empire and, for many historians, the beginning of the Middle Ages . The decline of the city's population was caused by the loss of grain shipments from North Africa, from 440 onward, and the unwillingness of the senatorial class to maintain donations to support a population that was too large for the resources available. Even so, strenuous efforts were made to maintain

13286-400: The entourage of Cardinal Albornoz , who was charged with restoring the Church's power in Italy. Back in power for a short time, Cola was soon lynched by the populace, and Albornoz took possession of the city. In 1377, Rome became the seat of the papacy again under Gregory XI . The return of the pope to Rome in that year unleashed the Western Schism (1377–1418), and for the next forty years,

13432-600: The face of Rome dramatically, with works like the Pietà by Michelangelo and the frescoes of the Borgia Apartments . Rome reached the highest point of splendour under Pope Julius II (1503–1513) and his successors Leo X and Clement VII , both members of the Medici family . In this twenty-year period, Rome became one of the greatest centres of art in the world. The old St. Peter's Basilica built by Emperor Constantine

13578-423: The failed attempt of social reform of the populares Tiberius and Gaius Gracchus , and the war against Jugurtha , there was a civil war from which the general Sulla emerged victorious. A major slave revolt under Spartacus followed, and then the establishment of the first Triumvirate with Caesar , Pompey and Crassus . The conquest of Gaul made Caesar immensely powerful and popular, which led to

13724-677: The first half of the first century (under Tiberius ) and popularised by his apostles through the empire and beyond. The Antonine age is considered the zenith of the Empire, whose territory ranged from the Atlantic Ocean to the Euphrates and from Britain to Egypt . After the end of the Severan dynasty in AD 235, the Empire entered into a 50-year period known as the Crisis of

13870-692: The first plunder of the city in more than five hundred years since the previous sack ; in 1527, the Landsknechts of Emperor Charles V sacked the city , bringing an abrupt end to the golden age of the Renaissance in Rome. Beginning with the Council of Trent in 1545, the Church began the Counter-Reformation in response to the Reformation, a large-scale questioning of the Church's authority on spiritual matters and governmental affairs. This loss of confidence led to major shifts of power away from

14016-493: The fiscal agent of the Albanian Government. Since being the central Bank of Albania, the bank performs a wide range of financial services dealing with billions of Albanian Leks. The government keeps an open account with the bank, through which it makes many domestic and international financial transactions. The Treasury operations, which consist of receipts and expenses made by the government is not carried out within

14162-576: The fledgling country lacked a central bank, and several attempts to create one were unsuccessful. Under Ismail Qemali 's leadership, a first "National Bank of Albania" was created on 4 October 1913, whose construct was dominated by foreign banks such as the Austrian Wiener Bankverein and the Banca Commerciale Italiana . The backlash against that foreign domination triggered a revolt in mid-May 1914 against

14308-461: The former Austrian and Russian stakes and most of the Moroccan one had also passed under French control, which thus represented slightly over half of the State Bank's total equity capital. The bank's business improved during the rest of the interwar period. In 1943, after Operation Torch had led to Allied control of Morocco, the State Bank transferred gold to a correspondent bank in Lisbon, in what

14454-424: The future status of Morocco, including reform of its administration and finances and ensuring free trade. The participating governments endorsed the project of a state bank and adopted provisions for its establishment. On 7 April 1906, the representatives of eleven European countries and the United States of America joined Morocco in signing the conference's final act ("Act of Algeciras"), whose articles 31 to 58 define

14600-658: The governance of the Holy See ) is an independent country inside the city boundaries of Rome, the only existing example of a country within a city. Rome is often referred to as the City of Seven Hills due to its geographic location, and also as the "Eternal City". Rome is generally considered to be the cradle of Western civilization and Western Christian culture , and the centre of the Catholic Church . Rome's history spans 28 centuries. While Roman mythology dates

14746-567: The headquarters building on Quai d'Orsay in Paris and renamed Société internationale de financement et de placements , were merged into its parent the Banque de Paris et des Pays-Bas in 1960. The State Bank had its corporate head office ( French : siège social ) in Tangier, its "seat of administration" ( French : siège administratif ) in Paris, and from 1925, its general management ( French : direction générale ) in Rabat. In Paris, where

14892-471: The help of the plebs (urban lower class) to gain power. In the same period, the bankruptcy of the small farmers and the establishment of large slave estates caused large-scale migration to the city. The continuous warfare led to the establishment of a professional army, which turned out to be more loyal to its generals than to the republic. Because of this, in the late 2nd and early 1st century BC there were several conflicts both abroad and internally: after

15038-529: The latter was privatized in 2000 and subsequently controlled by Çalık Holding . The Institute of Saving Accounts and Insurance was renamed the Savings Bank and spun off in 1991, eventually privatized in 2004 as Raiffeisen Bank Albania ( Albanian : Raiffeisen Bank Shqipëri ). In 1992, the State Bank was renamed the Bank of Albania and focused on its central banking role as fit for the newly established two-tier banking system . In 1996, an agreement

15184-580: The laws and regulations. The central bank supervises the banking system for the following purposes: The role of banking supervision is to promote safety and soundness by: To fulfill this role, banking supervision: From 1925 to 1938, the bank's center of operations in Albania was its office in Durrës , for which it erected a prominent building facing the port, designed by architect Vittorio Ballio Morpurgo and completed in November 1928. On 30 October 1938,

15330-610: The luxury fashion house Fendi located in the Palazzo della Civiltà Italiana . The presence of renowned international brands in the city has made Rome an important centre of fashion and design, and the Cinecittà Studios have been the set of many Academy Award –winning movies. According to the Ancient Romans' founding myth , the name Roma came from the city's founder and first king , Romulus . However, it

15476-465: The mid-1980s when the comune had more than 2.8 million residents. After this, the population declined slowly as people began to move to nearby suburbs. Rome is in the Lazio region of central Italy on the Tiber ( Italian : Tevere ) river. The original settlement developed on hills that faced onto a ford beside the Tiber Island , the only natural ford of the river in this area. The Rome of

15622-623: The monumental centre, the palatine, and the largest baths, which continued to function until the Gothic siege of 537. The large baths of Constantine on the Quirinale were even repaired in 443, and the extent of the damage exaggerated and dramatised. However, the city gave an appearance overall of shabbiness and decay because of the large abandoned areas due to population decline. The population declined to 500,000 by 452 and 100,000 by 500 AD (perhaps larger, though no certain figure can be known). After

15768-744: The north Latium town of Sutri to the Church, starting its temporal power. In 756, Pepin the Short , after having defeated the Lombards, gave the Pope temporal jurisdiction over the Roman Duchy and the Exarchate of Ravenna , thus creating the Papal States . Since this period, three powers tried to rule the city: the pope, the nobility (together with the chiefs of militias, the judges, the Senate and

15914-422: The operational target and the set of monetary instruments used to finalize the monetary policy goals. The Bank of Albania is committed to achieving and maintaining annual inflation at 3.0%, with a tolerance band of +/- 1 percentage point. The annual inflation for the third quarter of 2014 was 1.7%. The Bank of Albania manages open market operations through the purchase or sale of securities. These transactions play

16060-475: The outbreak of the Franco-Prussian War . Italian troops were able to capture Rome entering the city through a breach near Porta Pia . Pope Pius IX declared himself a prisoner in the Vatican . In 1871 the capital of Italy was moved from Florence to Rome. In 1870 the population of the city was 212,000, all of whom lived with the area circumscribed by the ancient city, and in 1920, the population

16206-512: The pope, the emperor, and each other. These were the times of Theodora and her daughter Marozia , concubines and mothers of several popes, and of Crescentius , a powerful feudal lord, who fought against the Emperors Otto II and Otto III . The scandals of this period forced the papacy to reform itself: the election of the pope was reserved to the cardinals, and reform of the clergy was attempted. The driving force behind this renewal

16352-458: The populace), and the Frankish king, as king of the Lombards, patricius, and Emperor. These three parties (theocratic, republican, and imperial) were a characteristic of Roman life during the entire Middle Ages. On Christmas night of 800, Charlemagne was crowned in Rome as Emperor by Pope Leo III : on that occasion, the city hosted for the first time the two powers whose struggle for control

16498-447: The price of severe dependence on external powers. With involvement of British and especially Italian diplomats, a convention was signed on 15 March 1925 between the Albanian authorities represented by Foreign Minister Mufid Libohova and the Italian bank Credito Italiano led by Mario Alberti  [ it ] , setting the framework for the creation of the National Bank of Albania, with seat in Rome and operations in Albania. The text

16644-453: The regime nominally led by Wilhelm von Wied and practically by strongman Essad Toptani . The bank venture was terminated after only a few months. Monetary chaos ensued during World War I , when Albania was occupied by various foreign powers. In the early 1920s, foreign currency was used for all transactions, generating considerable dysfunction. In 1923, Albanian municipalities were allowed to issue their own banknotes. One project floated by

16790-421: The remaining 35,000 shares (7.1 percent) mostly held by smaller Italian banks. In practice and despite its name, the National Bank of Albania was entirely outside the control of the Albanian authorities, and has been described as a "real death-knell for any further Albanian economic independence". It was legally headquartered in Rome and led by an Italian official, initially the economist Amedeo Gambino. This setup

16936-669: The respective cities' medinas . By June 1913, the State Bank's network had expanded with new branches in Mazagan (now El Jadida ), Oujda , Rabat , Safi , and Larache in the Spanish protectorate . By December 1921, branches had been added in Fez , Kenitra , Marrakesh , Meknes , and also Alcazarquivir (now Ksar el-Kebir ) and Tétouan in the Spanish protectorate. By July 1925, a branch had been added in Settat (which appears to have closed

17082-517: The right, for a 40-year term expiring at end-1946, to issue banknotes backed by gold. It had a strict cap on the spending of the Sultanate. The national banks of France, Germany, Spain, and the United Kingdom, which guaranteed the bank's loans, each appointed one of the State Bank's four overseers ( French : censeurs ). The State Bank's first years were difficult. Initially, the Sultan of Morocco

17228-413: The rivalry became costly for the Banque de l'Algérie. Starting in 1923, its governor Émile Moreau (who would become the State Bank's chairman in 1935) sought a compromise, and in early 1925 an agreement was made between the two institutions that practically sealed the dominance of the State Bank of Morocco (and through it, of the Banque de Paris et des Pays-Bas) over Morocco's monetary system. By mid-1925,

17374-483: The shore, where the south-western district of Ostia is located. The altitude of the central part of Rome ranges from 13 m (43 ft) above sea level (at the base of the Pantheon ) to 139 m (456 ft) above sea level (the peak of Monte Mario ). The Comune of Rome covers an overall area of about 1,285 km (496 sq mi), including many green areas. Public parks and nature reserves cover

17520-682: The successors of Peter, who is considered the first Bishop of Rome. The city thus became of increasing importance as the centre of the Catholic Church . After the Lombard invasion of Italy (569–572), the city remained nominally Byzantine, but in reality, the popes pursued a policy of equilibrium between the Byzantines , the Franks , and the Lombards . In 729, the Lombard king Liutprand donated

17666-542: The support system from its control. Christianity in the form of the Nicene Creed became the official religion of the empire in 380, via the Edict of Thessalonica issued in the name of three emperors – Gratian, Valentinian II, and Theodosius I – with Theodosius clearly the driving force behind it. He was the last emperor of a unified empire: after his death in 395, his young children, Honorius and Arcadius , inherited

17812-569: The symbol of Rome's constituted republican government . Furthermore, Rome has been called Urbs Aeterna (The Eternal City), Caput Mundi (The Capital of the world ), Throne of St. Peter and Roma Capitale. While there have been discoveries of archaeological evidence of human occupation of the Rome area from approximately 14,000 years ago, the dense layer of much younger debris obscures Palaeolithic and Neolithic sites. Evidence of stone tools, pottery, and stone weapons attest to about 10,000 years of human presence. Several excavations support

17958-471: The three Macedonian Wars (212–168 BC) against Macedonia . The first Roman provinces were established at this time: Sicily , Sardinia and Corsica , Hispania , Macedonia , Achaea and Africa . From the beginning of the 2nd century BC, power was contested between two groups of aristocrats: the optimates , representing the conservative part of the Senate , and the populares , which relied on

18104-717: The view that Rome grew from pastoral settlements on the Palatine Hill built above the area of the future Roman Forum . Between the end of the Bronze Age and the beginning of the Iron Age , each hill between the sea and the Capitoline Hill was topped by a village (on the Capitoline, a village is attested since the end of the 14th century BC). However, none of them yet had an urban quality. Nowadays, there

18250-433: The war as part of the " Italian economic miracle " of post-war reconstruction and modernisation in the 1950s and early 1960s. During this period, the years of la dolce vita ("the sweet life"), Rome became a fashionable city, with popular classic films such as Ben Hur , Quo Vadis , Roman Holiday and La Dolce Vita filmed in the city's iconic Cinecittà Studios . The rising trend in population growth continued until

18396-476: Was 660,000. A significant portion lived outside the walls in the north and across the Tiber in the Vatican area. Soon after World War I in late 1922 Rome witnessed the rise of Italian Fascism led by Benito Mussolini , who led a march on the city . He did away with democracy by 1926, eventually declaring a new Italian Empire and allying Italy with Nazi Germany in 1938. Mussolini demolished fairly large parts of

18542-585: Was demolished in the early 1970s and replaced by the Embassy of South Africa in Paris  [ fr ] . At its creation in 1907, the State Bank of Morocco took over the Moroccan operations of the Comptoir national d'escompte , including its current accounts and its three branches in Tangier , Casablanca , and Mogador (now Essaouira ). In the context of pre-protectorate Morocco, all three were located in

18688-478: Was established on 1 January 1991 as a spin-off of the State Bank's commercial banking activities, and took over the State Bank's branches outside Tirana. On 1 January 1993 BTSH merged with another State Bank spin-off, the Albanian National Bank ( Albanian : Banka Kombëtare e Shqipërisë , BKSH, est. 1992), to form Banka Kombëtare Tregtare (BKT, lit.   ' National Commercial Bank ' );

18834-670: Was first under the control of Odoacer and then became part of the Ostrogothic Kingdom before returning to East Roman control after the Gothic War , which devastated the city in 546 and 550 . Its population declined from more than a million in AD 210 to 500,000 in AD 273 to 35,000 after the Gothic War (535–554), reducing the sprawling city to groups of inhabited buildings interspersed among large areas of ruins, vegetation, vineyards and market gardens. It

18980-555: Was forced by the occupiers to transfer its gold reserves from Rome to Berlin. Following the country's liberation from German occupation in late 1944, the Albanian operations of the National Bank were nationalized on 13 January 1945 and renamed the Albanian State Bank. The National Bank's Italian legal entity was liquidated in 1957. The State Bank initially operated under a strict monobank system , with an internal department handling retail savings created in 1949. The latter

19126-443: Was governed by creating regional dioceses. The existence of regional fiscal units from 286 served as the model for this unprecedented innovation. The emperor quickened the process of removing military command from governors. Henceforth, civilian administration and military command would be separate. He gave governors more fiscal duties and placed them in charge of the army logistical support system as an attempt to control it by removing

19272-577: Was heading south to fight the Hohenstaufen on behalf of the pope, was appointed Senator. Charles founded the Sapienza , the university of Rome. In that period the pope died, and the cardinals, summoned in Viterbo , could not agree on his successor. This angered the people of the city, who then unroofed the building where they met and imprisoned them until they had nominated the new pope; this marked

19418-551: Was inaugurated on 15 December 1925 and was described as "the most beautiful modern monument of French Morocco". It is now the central headquarters of Bank Al-Maghrib. Aside from Rabat and Casablanca, Cadet and Brion worked jointly in the 1920s and early 1930s on the design of the State Bank's branches in Marrakesh (1922), Mazagan (1925), and Oujda (1926, replacing an earlier three-story, medieval-looking building ). After his collaboration with Cadet ended in 1935, Brion designed

19564-472: Was inspired by the precedent of the State Bank of Morocco , whose central functions were split between Paris and Tangier . Similarly, the National Bank's founding meeting and subsequent meetings of its governing body ( consiglio di amministrazione ) were held in Rome, where the Albanian government's gold reserves were transferred. The political backlash against the foreign dominance of the National Bank

19710-667: Was known as the caput Mundi , i.e. the capital of the known world, an expression which had already been used in the Republican period. During its first two centuries, the empire was ruled by emperors of the Julio-Claudian , Flavian (who built an eponymous amphitheatre known as the Colosseum ), and Antonine dynasties. This time was also characterised by the spread of the Christian religion, preached by Jesus Christ in Judea in

19856-733: Was leveraged by Zogu to sideline Mufid Libohova, an able official whom he had come to view as a potential rival and who was forced to retire from Albanian political life. The National Bank's Roman seat was on Piazza dell'Esedra , at the corner with the Via Nazionale and thus not far from the Bank of Italy . In Albania, its offices opened in Durrës on 29 November 1925, in Shkodër on 1 November 1926, in Vlorë on 15 November 1926, and subsequently in Berat , Elbasan , Korçë , and Sarandë . Under

20002-408: Was located in its property inherited from the Comptoir national d'escompte , a Moorish-style multistory building constructed in 1903 in the vicinity of the Petit Socco , the old center of the city’s commercial activity. In 1952, the bank moved to a purpose-built late art deco building on Tangier's Boulevard Antée (now Avenue Mohammed V ), designed by architect Edmond Brion , with echoes of

20148-412: Was not carried out. Its monetary stanc ebecame severely inflationary: its aggregate issued money, which had been 11.1 million francs at end-1937 and 10.5 million at end-1938, rose to 26.3 million at end-1939, 80.2 million at end-1940, and 108.4 million at end-1941. Under the German occupation of Albania from September 1943, the National Bank kept operating but under increasingly difficult conditions, and

20294-449: Was opposed to its monopoly over Morocco's fiscal functions. Following the loss of Morocco's independence and its partition into a French and a Spanish protectorate in 1912, the Treaty Between France and Spain Regarding Morocco upheld the bank's rights and duties as defined in the 1906 Act of Algeciras, both in the French protectorate and the Spanish protectorate , with only minor changes to its governance. The two countries provided that

20440-430: Was reached to return most of the former National Bank's gold reserves to Albania. The bank's primary objective is the maintenance of price stability. The bank also promotes and supports the development of the foreign exchange regime and system, the domestic financial market, the payment system, and contributes to improving monetary and lending conditions. The Bank also acts as manager of the county's currency by balancing

20586-405: Was restored in part much later). In 330, he transformed Byzantium into Constantinople , which became his new capital. However, it was not officially anything more than an imperial residence like Milan , Trier or Nicomedia until given a city prefect in 359 by Constantius II . Constantine, following Diocletian's reforms. regionalised the administration, which fundamentally changed the way it

20732-458: Was subsequently renamed the Institute of Saving Accounts and Insurance, while still being hosted by the State Bank. On 1 January 1970, a separate Agricultural Bank was established but remained within the concept of a single-tier banking system . Shortly after the fall of communism in Albania in December 1990, the country started a profound reform of its financial sector. The Albanian Commercial Bank ( Albanian : Bankës Tregtare Shqiptare , BTSH)

20878-399: Was the monk Ildebrando da Soana , who once elected pope under the name of Gregory VII became involved into the Investiture Controversy against Emperor Henry IV . Subsequently, Rome was sacked and burned by the Normans under Robert Guiscard who had entered the city in support of the Pope, then besieged in Castel Sant'Angelo . During this period, the city was autonomously ruled by

21024-402: Was then ratified by the Albanian legislature on 22 June 1925, allowing the National Bank of Albania to be formally established in Rome on 2 September 1925. The convention of March 1925 had established that the National Bank's initial share capital would be held by a mix of Italian, Albanian, Yugoslav, Swiss and Belgian partners. The stated intent was that Albanian interests would control half of

21170-409: Was to be a constant of the Middle Ages. This event marks the beginning of the Carolingian Empire , the first phase of the Holy Roman Empire . In 846, Muslim Arabs unsuccessfully stormed the city's walls , but managed to loot St. Peter 's and St. Paul's basilica, both outside the city wall. After the decay of Carolingian power , Rome fell prey to feudal chaos: several noble families fought against

21316-431: Was united as the Kingdom of Italy in 1861 with the temporary capital in Florence . That year Rome was declared the capital of Italy even though it was still under the Pope's control. During the 1860s, the last vestiges of the Papal States were under French protection thanks to the foreign policy of Napoleon III . French troops were stationed in the region under Papal control. In 1870 the French troops were withdrawn due to

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