20 Franga

Issued in the immediate aftermath of Italy's April 1939 invasion and annexation of Albania, this note was produced by the Banca d'Italia's own printing works in Rome — a pointed demonstration of where monetary authority now actually resided. The Banka Kombëtare e Shqipnis retained its name on the paper, but the institution had been effectively absorbed into Italian colonial financial administration.

The series to which this belongs (Pick 5–8) replaced the earlier Zog-era franc notes almost immediately upon occupation. Circulation was short — Albania's monetary system was formally integrated with the Italian lira in 1940.