Bank of Albania 'printed money' for buying Dajti Hotel

Seven years after the construction works began and nearly a decade and a half after the purchase of the iconic building of the famous Hotel "Dajti" on tirana's central boulevard, the Bank of Albania opened its doors to host its employees in a ceremony that focused on promoting tourism.

"I am pleased to welcome you to the new premises of the Bank of Albania, once known as the Dajti Hotel," governor Gent Sejko said as he addressed Prime Minister Edi Rama during the inauguration of the reconstructed building.

"This cultural monument, which has already been returned to the treasure of our cultural heritage, was reconstructed with a clear vision, that of preserving the values and architectural style of the time," Sejko added, while acknowledging that "the project of re-life was as costly as it was and rewarding".

Prime Minister Edi Rama thanked the governor for holding a meeting focusing on tourism as the first activity in the reconstructed building.

"Thank you to the governor and the Bank of Albania for this activity, which I understand is the first in the premises of this institution, that besides the central institution of the Republic it is an important monument of cultural heritage, now restored to identity but with a different function," rama said.

The complacency expressed by the two senior state officials for the reconstruction of the building can be understandable, accounting for the length of time the project has taken.

But a 'confidential' audit report from the 2017 Supreme State Audit, obtained by BIRN, shows that thanks to the two officials should be directed to the citizens, as they have made the main contribution to the purchase and reconstruction of the building.

Alsai has found in its audit that the Central Bank printed banknotes to buy 4 billion lek [30 million euros with the time savings] in 2010, the ruined hotel building and the surrounding land.

The report suggests that the financing of the expenditures for reconstruction of the central building in Skanderbeg Square is based on the emission of money, as the reserves in the account for this purpose have not been sufficient.

Economic experts explain that the bank of Albania's issive money has brought additional costs to citizens through the rise of inflation.

"Once the decision is made to print money and the effects that this decision produces, the level of inflation increases because the decision translates into increased monetary offer and higher prices, which are taken at the expense of the citizens," said Pano Soko, economic expert and member of the Knitting Initiative.

Printing money for real estate investments is not the only problem identified by ALSAI. According to the report, the Bank of Albania in one case is suspected of helping a private company avoid paying tax obligations and bank credit.

The report of the ALSAI audit extends both to the period when the bank was headed by former governor Ardian Fullani, as well as during the period led by the current governor, Gent Sejko. The money issue started during the period fullani ran the bank for the purchase of Dajti hotel, allegedly may have been continued by his successor Sejko to finance the reconstruction of the building.

Sejko is also accused by the ALSAI audit group that after taking over the leadership of the country's top financial institution, he was involved in a suspicious procurement procedure for the purchase of a luxury Range Rover.

The Bank of Albania said in a response to BIRN that the findings of auditors suggesting violations are part of the preliminary but not final report, which the Bank said was reviewed after documents were made available.

"There were no findings and no recommendations in the ALSAI report, but part of the preliminary report, which, as the process foreseens, was revised by the auditors as a result of the presentation of relevant documentation and relevant legal basis by the audited party," said BSH.

"The issue of currency, as provided in the law, is done in order to meet the needs of the economy with money, and at no point to finance the expenditure of the institution itself," the Central Bank added.

Former HEAD of THEASI for 2011-2020, Bujar Leskaj told BIRN that his decision to classify the report as confidential took into account the specifics of the Central Bank.

"It should have been explained in the Decision of the President, based on the specificity of the subject that is audited and the sensibility of the issues addressed and that it was forwarded to the Supervisory Council of the BSH," Leskaj said, adding that the main findings are also in the Budget Implementation Report and the ALSAI Performance Report, which have been forwarded to the Assembly and the Economy Commission.

Former governor Ardian Fullani did not respond to a request for comment directed by BIRN until publication of this article.

Buying "Dajti" with money emission

Mirela Kumbaro, Edi Rama and Governor Gent Sejko during the inauguration of the reconstructed building of Dajti Hotel . Photo: LSA

The Bank of Albania is a constitutional institution charged with the responsibility of maintaining price stability and financial stability, and the sole body that ensures the denomination and withdrawal from the market of coins and banknotes. The Central Bank is allowed to cut and dispose of money on the basis of rigorous regulations, in order to avoid the impact on the economy with decreases or increases in monetary supply.

To ensure independence in its self-finance, the Bank of Albania realizes income from one-day credit operations, bond commissions and interests in the investment of albanian foreign reserves and securities.

The law allows the Bank to deprecate its annual expenditures and keep 25% of them as a general reserve, until the fund reaches ALL 37.5 billion, the rest must be transferred to the state budget.

Hotel "Dajti" was built during the fascist occupation of Tirana between 1939 and 1942 and is recognized as part of the cultural monuments inherited by the ensemble of The Floorentina architect Gherardio Bosio, who has also designed the "Qemal Stafa" stadium or the National Theatre, buildings that unfortunately no longer exist.

The hotel remained open as one of the capital's main destinations during the communist regime, hosting rare visitors coming to Albania, while closing its doors in the mid-2000s due to degradation and lack of investment.

From 2007 to 2010, the year in which the transaction for the purchase of the former Dajti Hotel was carried out, the Central Bank transferred ALL 24.5 billion [181 million euros with the time-saving] profits to the state budget. During this period, no reserves were left to finance capital investments, which for the High State Control was created the conviction that the money for the purchase of Dajti hotel was printed and helped the government of the time with liquidity.

"As a result of the above actions from 2010, the reserves for capital investments carried out and projected are smaller than the value of capital investments," writes THE ALSAI, while adding that "the gap trend has been negative since 2010, reaching a value of about 7 billion ALL in 2014, down to about 6.37 billion ALL in 2016 as a result of amortization".

"From the above it turns out that the capital expenditures of the Bank of Albania in the period 2010-2014 were financed by the issue/increase of the monetary offer," adds THEASI in the draft report.

Eduart Gjokutaj, financial expert and head of altax center, told BIRN that the issue of money is linked to meeting the economy's needs for cash and suitable for circulation, but always based on monitoring and analysis of the monetary market.

"If we analyze the issue of money related simply to the needs for a transaction that the government should carry out, it is understood that there is a pure conflict here with the STRATEGY of the BSH, but also a cedation of its integrity subject to the needs of the government and not the economy," he stressed.

Suspicions that the Berisha government was helped with money from the Central Bank were also denounced by the socialists in opposition in 2010.

"A clean operation that does not justify the purchase of this facility by the Bank of Albania, but which clearly proves the giving of money by the Bank of Albania for the empty coffers of the government of Sali Berisha," mp Erion Braçe would declare that year.

But with the socialists slowly lowering their tones not only on the Hotel Dajti issue but also for the luxury spending at the Central Bank often denounced by them, and voted for the appointment as a member of the Governing Council, Ridvan Boden, the former finance minister they accused of the affair.

Alsai states that the practice of money printing has continued in other years for the reconstruction of the central building in Skanderbeg Square, while casting doubt that the money for the reconstruction of Hotel Dajti during the time that gent sejko was appointed as head of the bank, was not in the account.

"ALSAI notes, based on the data presented, that fixed assets on the bank of Albania's balance sheet for one year will increase by 700 million ALL (1.4 billion investments minus 700 million ALL) while the quoted reserve, which has counter-party, would not change," the draft audit report states.

"Thus, the value of 700 million ALL increases in net investments in balance per year for the years 2016-2018, if new reserves are not kept from profits, cannot be covered by current reserves and consequently will be financed with the issue/increase of the monetary offer in the investment year" added ALSAI.

According to Eduard Gjokutaj, this operation should have been approved by the Supervisory Council first.

"Regarding financing of the expenditures for creation/growth of assets, of course the lack of legal reserve should have been taken a decision first of the Supervisory Council of the Bank of Albania, to cover the losses and further to consider decisions related to assets," he said.

“Me hedhjen e parave të reja në ekonomi pa disponuar një analizë specifike apo edhe periodike, duke ju nënshtruar edhe kriterit të transparencës dhe llogaridhënies (mbajtje konfidenciale e veprimit të emetimit) krijon në vetvete një ndryshim të ekuilibrit të sasisë (ofertës) së parasë vendase në qarkullim,” shtoi Gjokutaj, ndërsa theksoi se rasti në fjalë “ka një ndikim mjaft të kufizuar dhe nuk ka efekte direkte në treg.”

Gjithsesi, ekspertët theksojnë se rritja e ofertës monetare në treg ka një kosto për qytetarët dhe ata që e kanë marrë këtë vendim duhet të mbajnë përgjegjësi.

“Nga pikëpamja e përgjegjësisë se kush mban përgjegjësi për rëndimin e jetës së qytetarëve dhe në atë pasojë që mund të ketë sjellë kjo shifër që ka ndikuar në rritjen e ofertës monetare, përgjegjësia është e Këshillit Mbikëqyrës të Bankës së Shqipërisë,” deklaroi Pano Soko.

“Justifikimet që janë nxjerrë për të marrë këtë vendim, janë ato që duhet të hetohen,” shtoi ai, ndërsa theksoi se “nëse qëllimi ka qenë ndryshe nga justifikimi aty kemi një diskordancë.”

KLSH dyshon gjithashtu se jo vetëm që janë emetuar para, por vlera e blerjes së godinës së Hotel Dajtit dhe truallit të saj ka qënë më e lartë se tregu, çka është vërtetuar dhe në vlerësimin që Banka Qëndrore i ka bërë asetit në janar të vitit 2015.

Sipas vlerësusve, godina e Hotel Dajtit bashkë me truallin nuk kushton më shumë se 2.4 miliardë lekë, ndërsa banka ia bleu qeverisë për vlerën 4 miliardë lekë, 70% më shumë, duke rezultuar me 1.6 miliardë lekë dëm ekonomik.

BSH dyshohet se ndihmoi kompaninë Halili të shmangë taksat

Selia qendrore e Bankës së Shqipërisë | Foto: BIRN/Nensi Bogdani

Për vite me radhë, një pjesë e stafit të Bankës së Shqipërisë u akomodua në një godinë në afërsi të zonës së Selvisë në kryeqytet, që njihet si kompleksi “Halili”. Godina zotërohet nga kompania e presidentit të Klubit të Futbollit Tirana, Refik Halili – i dërguar së fundmi në gjyq me akuzën e fshehjes së të ardhurave nga Prokuroria e Tiranës.

Por sipas projekt-raportit të auditimit të KLSH-së, Klubi i Futbollit Tirana nuk është subjekti i vetëm që nuk ka përmbushur detyrimet fiskale. Edhe kompania tjetër e tij, “Halili” shpk ka rezultuar debitore për pagesën e sigurimeve shoqërore në periudhën e marrë në vlerësim. Ky subjekt ka patur të lidhur një kontratë qiraje me Bankën Qendrore, procedurë ku KLSH ka gjetur shkelje të njëpasnjëshme.

Dokumentacioni i audituar nga KLSH tregon se në momentin që është hapur procedura e drejtpërdrejtë “Marrje me qira e ambienteve të reja në Kompleksin Halili, për një periudhë 3-vjeçare” në vitin 2016, kompania Halili rezultonte debitore ndaj shtetit shqiptar, konkretisht Drejtorisë së Tatimeve, për pagesën e sigurimeve shoqërore ndaj punonjësve. Në të dhënat publike, firma Halili rezultonte në atë kohë në regjistrin e debitorëve të tatimeve, ndërsa në ekstraktin e saj kishte një vendim të autoriteteve tatimore për bllokimin e llogarive.

Pavarësisht kësaj situate, komisioni i prokurimit ka vijuar negocimin e kontratës me shoqërinë “Halili” shpk, duke hequr si kriter depozitimin e vërtetimit se subjekti nuk duhet të ketë detyrime tatimore të papaguara, kusht i cili përcaktohet si thelbësor në rregulloren e prokurimit të bankës. KLSH dyshon se kërkesa vetëm e ekstraktit të kompanisë si person juridik, “krijon hijen e dyshimit se qasja e tillë është e menduar për të favorizuar këtë subjekt për sa kohë që vendimarrja është e paracaktuar”.

Kjo tezë përforcohet pasi në fund të procedurës me fond limit 790 mijë euro për 3 vjet, është konstatuar se derdhja e pagesave të qirasë për vitin e audituar 2016 në vlerë 32.6 milionë lekë [240 mijë euro me kursin e kohës] është bërë në llogarinë e administratores së kompanisë, Xhakonda Halili dhe jo në llogaritë e shoqërisë. KLSH konstaton se përmes këtij veprimi, institucioni i Bankës së Shqipërisë ka ndihmuar subjektin që të shmangë përmbushjen e detyrimeve tatimore, duke shkaktuar efekte negative në buxhetin e shtetit.

“Nga konstatimi i kryer, KLSH kërkoi të investigonte kohëzgjatjen e kësaj dukurie, llogaritë e përdorura dhe vlerat përkatëse të transferuara, por ky informacion nuk është paraqitur prej subjektit të audituar,” thuhet në raport.

KLSH ka mbajtur të njëjtin qëndrim dhe pas kundërshtive që ka bërë Banka Qendrore.

“Ligji dhe udhëzimi për procedurat tatimore, ndryshe nga sa pretendohet nga Banka, njeh si llogari për kryerjen e pagesave “llogarinë e tatimpaguesit”, në këtë rast llogarinë e subjektit Halili shpk, dhe në asnjë rast nuk parashikon pagesa në llogari personale të administratorëve” sqaron KLSH.

BIRN ka gjetur se llogaritë e firmës Halili kanë rezultuar në këtë periudhë të bllokuara dhe nga një shoqëri përmbarimore për llogari të bankës BKT. Zyra “Ardael” ka urdhëruar sekuestro mbi kuotat e shoqërisë më datë 27 maj 2015 për një kredi të pashlyer dhe e ka hequr sekuestron në vitin 2018, pas shlyerjes së detyrimeve.

Pronari i kompanisë ‘Halili', Refik Halili, nuk iu përgjigj një kërkese për koment të drejtuar nga BIRN, ndërsa Banka Qendrore sqaroi se detyrimet tatimore dhe debitore të shitësit të shërbimit nuk ishin përgjegjësi e saj.

“Banka e Shqipërisë ka detyrim që të kryejë pagesën sipas të dhënave të faturës tatimore të lëshuar nga shitësi dhe këtë pagesë ta kryejë në llogarinë bankare të kërkuar dhe të vetëdeklaruar po nga shitësi”, tha BSH në një përgjigje me shkrim

“Detyrimet debitore ndaj subjekteve të ndryshme ndiqen sipas procedurave përmbarimore nëpërmjet llogarive rrjedhëse në bankat tregtare,” shtoi BSH.

Blerja e Range Rover për guvernatorin e ri

Makina e guvernatorit Gent Sejko

Në nisje të detyrës së tij si guvernator i Bankës së Shqipërisë në shkurt të vitit 2015, Gent Sejko trashëgoi një automjet të markës BMW Seria 7, të cilën e kishte përdorur më parë paraardhësi i tij, Ardian Fullani.

Disa muaj më pas, duket se makina nuk konsiderohej tërësisht e përshtatshme për postin e drejtuesit të Bankës Qendrore, ndaj në projekt-buxhetin e vitit 2016, guvernatori i propozon Këshillit Mbikëqyrës që të miratojë një fond me vlerë 450 mijë euro (kursi i asaj periudhe) për të mundësuar blerjen e 10 automjeteve.

Kërkesa bazohej në një dokument që kishte hartuar administrata e bankës, ku argumentohej se flota ishte e vjetër, makinat kishin kosto të lartë për riparime dhe shpenzime karburanti.

Pavarësisht këtyre sqarimeve, Këshilli Mbikëqyrës refuzon të miratojë të gjithë fondin menjëherë, duke e ndarë atë në dy vite buxhetore: për 2016-n do të financohej blerja e 5 makinave dhe 5 të tjera do të merreshin vitin pasardhës. Administrata tashmë kishte në dispozicion 344 mijë euro për të kontraktuar mjete të reja për 5 administratorët e Bankës, mes të cilëve dhe guvernatori Sejko.

Sipas projekt-auditit të KLSH, procedura përfundoi në fund me blerjen e 4 automjeteve, ku afro gjysma e fondit, 165 mijë euro, u përdor për t'i blerë guvernatorit Sejko një fuoristradë të re të markës ‘Range Rover' me ngjyrë të zezë. Vlera e blerjes e rendit mjetin në listën e makinave më të shtrenjta që përdorin krerët e shteteve dhe institucioneve – jo vetëm në Shqipëri por edhe në rajon dhe në Evropë.

Pjesa e procedurës së blerjes së makinave është hequr nga raporti përfundimtar i KLSH-së për Bankën e Shqipërisë.

Një burim pranë KLSH-së i tha BIRN se “ndërhyrjet gjatë periudhës së auditimit në Bankën Qendrore ishin të shumta dhe se në raportin final, disa pjesë të rëndësishme u hoqën, përfshirë këtu dhe blerja e mjetit Range Rover”

“Në KLSH dihej se projekt-raporti është mendimi i grupit të punës dhe përfundimtari i kryetarit Leskaj”, shtoi i njëjti burim.

Sipas audituesve, si propozimi për rinovimin e flotës së automjeteve, ashtu edhe procedura e blerjes së tyre është bërë në shkelje. Grupi i punës thotë se nuk ka patur një shpjegim që të justifikojë gjendjen e makinave që duhet të ndryshoheshin dhe amortizimin e secilës prej tyre. Projekt-raporti konstaton se përgjegjësi i parkut të automjeteve fillimisht ka kërkuar shtimin me 10 makina, por kur është hapur procedura për blerjen e 4 makinave në maj të vitit 2016, ka miratuar ndarjen e fondit “duke marrë vendime kontradiktore”.

“Në shkresat e sipërcituara, argumentet janë zëvendësuar nga një përshkrim i përgjithshëm, pa arritur të justifikohet nevoja për automjete nëpërmjet një analize të qartë dhe teknike, por edhe nominale për secilin automjet që nuk e kryen më funksionin e tij.” thuhet në projekt-raportin e auditimit të siguruar nga BIRN.

Ndarja e fondit që mundësoi blerjen e fuoristradës luksoze u bë në fshehtësi, duke anashkaluar vendimmarrjen e Këshillit Mbikëqyrës, i cili kishte dhënë miratimin për të blerë 5 makina dhe pa bërë diferencime në vlerën dhe llojin e tyre.

"The allocation of the limit fund for the purchase of a vehicle type of vehicle worth 22.400.000 ALL and three vehicles type of car worth 23.949.000 ALL was realized outside the annual budget planned by the Supervisory Council, although the reports addressed to the Council do not specify differentiations in the types of vehicles needed to become part of the park" concluded the alsai auditors group.

According to Pano Soko, this procurement raises suspicions that no legal flow has been followed.

"The legal problem is that when the new leader comes, no one's wish must come true and the administration must implement the decisions of the board and the budget adopted by him," he said.

"Getting out of these obligations that came when the new head of the bank was elected by ignoring the legal framework is a criminal offence and that must be investigated," Pano Soko added.

The procedure for purchasing 4 cars during 2016 was conducted through a secret tender, giving the contracting authority the right to select tenderers, in open violation of the procurement regulation at the Bank of Albania.

The regulation allows for the development of limited procedures only in cases where the limit fund does not exceed EUR 90 thousand in cases of goods, or when the candidates offering them are a limited number of operators on the market.

"The requested goods are not limited only by the economic operators invited and the value of the limit fund for procured goods is several times greater than the limit set for its restriction," the report of alsay states.

In the conduct of procurements, the Regulation of the Bank of Albania itself clearly defines the ceilings of the amounts tendered in open and limited tenders. The amount mentioned exceeds this ceiling by at least 2.5 times," Gjokutaj says.

The central bank candidates invited to participate in the competition were Autostar Albania, Hari Lena Group, Classic, Tirana Auto and Porche Albania. In June 2016, they qualified as candidates to give bids to autostar albania and Tirana Auto.

Even the classification of these candidates was done in violation of the procurement regulations, as the company Tirana Auto was a party to a judicial process subject to "contract fulfillment obligation", which in the sense of the procurement regulation, should have been the criterion to exclude it from the competition.

At the end of the proceedings, the Central Bank bought a Range Rover fuoristrada for 165 thousand euros from Tirana Auto company, which advertises the exclusive land rover brand and 3 cars with a total fund of 176 thousand euros from Autostar Albania that offers the exclusiveness of the Mercedes-Benz brand.

"From a moral point of view, the problem is deeper, where it is forgotten that we are in the poorest country and the average salary is such that you cannot afford a car that costs 2,000 euros," Soko said.

The Bank of Albania claimed in a written response that for the procurement of vehicles, the expenditures were incurred according to the budget approved by the Supervisory Council.

"In the case in question, the annual funds provided for the voice "Vehicles" are respected according to the budget of the Bank of Albania approved by the decision of the Supervisory Council," said BSH.

The BSA's rules on transparency in spending have not changed

Governor of the Bank of Albania, Gent Sejko, speaking during a parliamentary session. | Photo: LSA

Governor Ardian Fullani's departure from the Bank of Albania may be left to coincidence as much as mismanagement, but almost a decade on, pledges made by his successor Gent Sejko to the Parliamentary Economic Commission do not appear to have been fulfilled.

Coming from the banking sector, Sejko appeared to be a suitable candidate to change the face of the Central Bank institution at the time it was involved in the huge scandal of the disappearance of 713 million LEK, while there was a political consensus for his post from all the main parliamentary forces.

Gent Sejko is today in the second term and in the tenth year of the bank of Albania's leadership, but can still be considered to be kept his promises to clear administrative and recover the amount of money stolen in the treasury, review the regulations related to the transparency of the institution and reduce the high costs for salaries and services that are considered an excessive luxury for public institutions.

The salary fund at the Bank of Albania has increased by 32% more than a decade ago, while administrative expenses have increased by 6-fold.

Debates on luxury spending of the Central Bank have been raised with concern for years by members of the Assembly, especially by socialists during the period when they were in opposition. So far, the lawmakers have not taken any initiative to change the basic law of functioning of the Bank of Albania, while the Supervisory Council has continued to keep the same procurement regulations in force, making the Central Bank the only institution where tenders are held with envelope.

The recommendations for changes have left several years in a row and the Supreme State Audit, which in the 2017 report calls for immediate review after there are regulations "where their legal basis has been abolished for years." The ALSAI has found that for some regulations for which recommendations have been left over the years, they have been improved and changed.

The BSH told BIRN that the procurement regulation has been updated continuously and that despite the fact that tenders are conducted with envelopes, procurement procedures are conducted in the presence of the parties participating.

KLSH ‘fshehu' raportin

The Audit Report of the Supreme Audit of the State Was Rejected by the Bank of Albania in some observations, but after discussions, the audit group decided that the findings regarding the issue of money should remain in the final report, which was never released.

His existence seems to be known only by a small group of majority deputies in the Economy Commission, bank of Albania and ALSAI. For the first time, the report is mentioned in the resolution adopted in 2018 by the Assembly on the activity during 2017 of the High State Audit.

"The Economy and Finance Commission urges the High State Control to further deepen the investigation of the purchase of Hotel Dajti in the terms of financing with currency emission, despite the fact that the revenues could be sufficient to make such a purchase," stated during the reading of the RESOLUTION of the ALSAI, Socialist MP, Blerina Gjylameti.

But the issue of money is removed from the final resolution adopted and published in the Official Gazette.

"(ALSAI) to deepen and accelerate the audit procedures on the privatization of Dajti Hotel by the Bank of Albania, to increase transparency of this process and to strengthen accountability for law enforcement," the resolution said.

In a reply to BIRN, alsai head of the period, Bujar Leskaj said that in 2019, 'we have not had the opportunity to audit the request in question.'

"I think it should have been done in the years to come," he stressed.

And although 7 years have passed since the completion of the audit report, THE ALSAI has not published it, and refused to grant it after a request directed by BIRN on the grounds that "the report is considered confidential because of the information it contains" referring to Article 27 of the law "On the Organization of and High State Control".

BIRN filed a complaint with the Office of the Commissioner for the Right to Information and Protection of Personal Data, arguing that the basic law of the ALSAI does not give the tagline to classify documents and reports can only be limited if the audit group encounters classified information and is equipped with security certificates, which did not happen in this case. The Commissioner's Office is in the process of reviewing the complaint.

"Keeping the audit report confidential shows fear of the findings, but also that the face of the institution did not change from the new direction," Said Pano Soko.

"The new guidance did not go to protect the public good," he concluded. / Ola Xama, Reporter.al

Mirela Kumbaro, Edi Rama dhe guvernatori Gent Sejko gjatë përurimit të ndërtesës së rikonstruktuar të hotel Dajtit | Foto: LSA

Selia qendrore e Bankës së Shqipërisë | Foto: BIRN/Nensi Bogdani

Makina e guvernatorit Gent Sejko

Guvernatori i Bankës së Shqiperisë, Gent Sejko duke folur gjatë një seance parlamentare. | Foto: LSA