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Money and Banking in Albania, from Antiquity to Modern Times

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M nk o a f a u B l b s a n e i a u 2015 m MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES First Conference of the Museum of the Bank of Albania Proceedings 14-15 June 2017 2 Published by: © Bank of Albania Address: Sheshi “Skënderbej”, Nr.1, Tirana, Albania Tel.: + 355 4 2419301/2/3; + 355 4 2419401/2/3 Fax: + 355 4 2419408 E-mail: [email protected] Printed in: 200 copies ISBN: 978-9928-262-09-7 Data from this publication may be used, provided the source is acknowledged. The views expressed in the presentations to BoA’s conference on “Money and Banking in Albania: From Antiquity to Modern Times” are those of the authors and do not necessarily reflect the views of the Bank of Albania. MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES - I-st Conference of the Museum of the Bank of Albania 3 CONTENTS OPENING ADDRESS 7 Gent Sejko, Governor, Bank of Albania THE BEGINNING OF COINAGE IN ILLYRIA AND THE TRADE BETWEEN ILLYRIANS AND GREEKS 11 Keynote speaker: Prof. Olivier Picard, former Director of the French Archaeological School at Athens, Professor at the Sorbonne University, Member of the Académie des Inscriptions et Belles Lettres (Institute of France) SESSION I ANCIENT CIVILISATION AND MONEY AS A MEANS OF EXCHANGE, AT THE FOCUS OF THE ALBANIAN AND INTERNATIONAL ARCHAEOLOGICAL DISCOVERIES 19 Session Chair: Prof. Olivier Picard, former Director of the French Archaeological School at Athens, Professor at the Sorbonne University, Member of the Académie des Inscriptions et Belles Lettres (Institute of France) FROM BARTER ECONOMY TO COINAGE 21 Dr. Eleni Papaefthymiou, Professor of Ancient Greek and Roman History, Open University of Cyprus SOME ASPECTS OF PRE-MONETARY EXCHANGE IN ALBANIAN PREHISTORY 27 Dr. Rovena Kurti, Prof. Dr. Ilirjan Gjipali, Rudenc Ruka, Institute of Archaeology, Center of Albanological Studies HOARDS OF ANTIQUE COINS FOUND IN ALBANIA, AN IMPORTANT SOURCE OF INFORMATION ON THE POLITICAL AND ECONOMIC LIFE OF ILLYRIANS IN THE V-I CENTURY BC 41 Prof. Dr. Shpresa Gjongecaj, Institute of Archaeology, Center of Albanological Studies I-st Conference of the Museum of the Bank of Albania - MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES 4 CIRCULATION OF ROMAN IMPERIAL COINS IN ALBANIA (14 B.C – enD OF V CENTURY A.D.) 49 Dr. Albana Meta, Institute of Archaeology, Center of Albanological Studies EPIDAM/DYRRAH - AT THE FOCUS OF MONEY AND BANKING ACTIVITY 57 Prof. Dr. Gjergj Frashëri, “Qendra Frashëri” Foundation SESSION II FEATURES OF MONEY AND ECONOMIC DEVELOPMENT DURING THE MIDDLE AGES 67 Session Chair: Associated Academic Shaban Sinani, Albanian Academy of Science MONEY AS REGULATOR OF RELATIONSHIPS IN THE CITY OF SHKODRA DURING XIV-XV CENTURY 69 Prof. Dr. Pëllumb Xhufi, Institute of History, Center of Albanological Studies SILVER COINAGE IN THE CITY OF SHKODRA AND THEIR ARCHAEOLOGIC CONTEXT OF XV CENTURY 77 Prof. Dr. Gëzim Hoxha, Institute of Archaeology, Center of Albanological Studies THE ECONOMY IN ALBANIAN TERRITORIES IN 16TH-18TH CENTURIES. THE SUSTAINABLE DEVELOPMENT OF A REGIONAL ECONOMY STRADDLING TWO WORLDS: THE REPUBLIC OF VENICE AND THE OTTOMAN EMPIRE 85 Dr. Ardian Muhaj, Center of Albanological Studies CHALLENGING THE STATE: MINTING BY THE ALBANIAN PASHALICS (END OF XVIII CENTURy – beginning OF XIX CENTURY) AS AN EXPRESSION OF THE LEGITIMACY OF THE POLITICAL POWER AND AUTONOMY 91 Assoc. Prof. Dr. Dritan Egro, European Universtiy of Tirana SESSION III POSTER PRESENTATIONS 97 THE VOSKOPOJA GUILD OF TAILORS’ CREDIT-LENDING OPERATIONS AND RISK MANAGEMENT (1716-1727) 99 Assoc. Prof. Dr. Konstantinos Giakoumis, Eurpean Universtiy of Tirana Assoc. Prof. Dr. Juna Miluka, New York University of Tirana PRENUPTIAL CONTRACTS OF MYZEQE AND THEIR FINANCIAL DIMENSION 111 Sokol Çunga, Central State Archive BANKNOTES OF THE AUTONOMOUS REGION OF KORÇA (1916-1918) AND A DOCUMENTARY APPENDIX 117 Elsa Zhulali, Bank of Albania LOANS - THE CORE OF THE ALBANIAN-CHINESE ECONOMIC RELATIONS 131 Etleva Goxhaj, PhD Candidate MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES - I-st Conference of the Museum of the Bank of Albania 5 SESSION IV THE ALBANIAN STATE, ESTABLISHMENT AND CONSOLIDATION OF THE BANKING SYSTEM (1912-1992) 137 Session Chair: Prof. Dr. Nevila Nika,European Universtiy of Tirana PROVISIONAL GOVERNMENT OF VLORA, THE ALBANIAN NATIONAL BANK AND THE GREAT POWERS (1912-1914) 139 Assoc. Prof. Dr. Ledia Dushku, Institute of History, Center of Albanological Studies EVENTS LEADING UP TO THE ESTABLISHMENT OF THE NATIONAL BANK OF ALBANIA 145 Dr. Erarba Çiraku, Center of Albanological Studies THE FATE OF THE ALBANIAN BANKNOTE RESERVE DURING AND AFTER THE WAR 151 Assoc. Academic Shaban Sinani, Albanian Academy of Science THE ALBANIAN CURRENCY IN CIRCULATION IN 1945-1991, A TYPICAL REFLECTION OF THE POLITICS AND IDEOLOGY OF THAT PERIOD - SIMILARITIES AND DIFFERENCES WITH OTHER FORMER COMMUNIST EASTERN BLOC 159 Prof. Dr. Adrian Civici, European University of Tirana ALBANIA’S MODERN BANKING SYSTEM - A QUICK RETROSPECTIVE IN ITS 25TH ANNIVERSARY 167 Gramoz Kolasi, Bank of Albania I-st Conference of the Museum of the Bank of Albania - MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES 6 MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES - I-st Conference of the Museum of the Bank of Albania 7 OPENING ADDRESS Gent Sejko* Dear Professor Picard, Dear academics, professors and researchers, Dear guests, It is a special pleasure for me to welcome you to the First Conference of the Museum of the Bank of Albania. This is a special event, which brings together academics, researchers, and experts of central bank and currency museums, to establish a new bridge of communication and cooperation that will help us to take further our work at the Museum. In our short experience in museum management, we have learned that it is very essential to cooperate with other institutions responsible for the administration of cultural heritage, as well as with scientists and experts that study and preserve them, and tell their history. Also, with the support from the Ministry of Culture, Centre for Albanian Studies and Institute of Archaeology, we have today the Museum of the Bank of Albania, whose collection displays unique and impressive items. The systematic work of our distinguished archaeologists and of the dedicated central bank employees over the years has helped in materialising the efforts for presenting the history of the Albanian currency, from the axes of the Hoard of Torovica, to the first coins struck in Dyrrhachium, to those in circulation throughout various historic periods, up to modern days. Through over 30 exhibits and 5 educational rooms in the Museum, we show interactively the ancient history of our currency. The permanent exhibition in the lower floor displays collections from monetary systems that have existed in our territories over the past two thousand years. They are part of the numismatic collection of the Bank of Albania and the Albanian Institute of Archaeology. We have selected and studied them meticulously in a close and long process of cooperation with * Gent Sejko, Governor, Bank of Albania. I-st Conference of the Museum of the Bank of Albania - MONEY AND BANKING IN ALBANIA, FROM ANTIQUITY TO MODERN TIMES 8 archaeologists, numismatists, historians and ethnologists in Albania. I take this opportunity to thank them for their valuable contribution. Our Museum, however, is not just a money museum. It is also the museum of the central bank, which considers financial education as an essential objective. The public needs to be informed in order to be able to make judicious and sound financial decisions, which, in turn, contribute to financial stability. That is why we have dedicated the upper floor of the Museum to financial information and education. Through a number of activities, educational publications, lectures, films, and applications, irrespective of their age, visitors learn about financial products and system. The history of money originates long ago and its developments are closely related to the people that have produced it. Its role is not limited to the economic functions; it is also a historic evidence of the minting or issuing country. It speaks about periods of economic crisis or downturns, of peace and prosperity, of successes and injustices. In this context, we decided to dedicate the First Conference of the Museum of the Bank of Albania to two main topics, which we think are the gist of its exhibitions and educational activities. 1. Findings, researches and discussions in the area of monetary production and circulation, the history of the economy and banking activity in Albania and Albanian historic territories, which contribute to accurate interpretation and updating of information transmitted to the visitors through Museum collections. 2. The educational role of central bank museums in getting to know the history of money, and banking activities and enhancing financial literacy through exhibitions, education and innovation. For this purpose, we aim, therefore, to bring together foreign central bank experts to share their perspective on the management of central bank museums, collections and educational activities. This conference certainly underlines the commitment of the Bank of Albania to earnestly engage in both research and educational activities. We are very interested in enhancing cooperation with researchers, academia, peer museums, and specialised institutions in economic, historic and cultural heritage research. Such cooperation is an excellent opportunity to Bank of Albania employees, who may benefit from valuable skills and expertise for our Museum. It would also contribute to new networking and collaboration in research activities. In light of promoting and furthering cooperation, we are committed to turning our Conference of the Museum of the Bank of Albania into an annual event. Also, in 2017, the Museum of the Bank of Albania will organise a cycle of lectures dubbed as ‘Nights of the Museum’, which will address a variety of topics, such as numismatics, banking history, economic and financial education, philately, art and architecture.
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    The wiiw Balkan Observatory August Working Papers|071| 2006 Erjon Luçi, Marta Muço and Elvira Sojli Euroisation in Albania: From Spontaneous to Consensual The wiiw Balkan Observatory www.balkan-observatory.net About Shortly after the end of the Kosovo war, the last of the Yugoslav dissolution wars, the Balkan Reconstruction Observatory was set up jointly by the Hellenic Observatory, the Centre for the Study of Global Governance, both institutes at the London School of Economics (LSE), and the Vienna Institute for International Economic Studies (wiiw). A brainstorming meeting on Reconstruction and Regional Co-operation in the Balkans was held in Vouliagmeni on 8-10 July 1999, covering the issues of security, democratisation, economic reconstruction and the role of civil society. It was attended by academics and policy makers from all the countries in the region, from a number of EU countries, from the European Commission, the USA and Russia. Based on ideas and discussions generated at this meeting, a policy paper on Balkan Reconstruction and European Integration was the product of a collaborative effort by the two LSE institutes and the wiiw. The paper was presented at a follow-up meeting on Reconstruction and Integration in Southeast Europe in Vienna on 12-13 November 1999, which focused on the economic aspects of the process of reconstruction in the Balkans. It is this policy paper that became the very first Working Paper of the wiiw Balkan Observatory Working Papers series. The Working Papers are published online at www.balkan- observatory.net, the internet portal of the wiiw Balkan Observatory. It is a portal for research and communication in relation to economic developments in Southeast Europe maintained by the wiiw since 1999.