This serie of banknotes belongs to the period in which, after
refusing the March 25th ultimatum that Benito Mussolini gave to king Zog
I and the birth of the Albanian throne heir Leka I, the Italian
government invaded Albania. Albania's parliament named
Victor Emmanuel III of Italy
king and Shefqet Vërlaci as Prime Minister and, despite the Italian
defeats in the Greco-Italian War, the success of the Axis Invation of
Yugoslavia made the Italian Albania absorb zones of Montenegro, Kosovo
and Macedonia (inhabited by ethnic Albanians). The regime colapsed
suddenly in September 1943 after Mussolini's overthrow, with some
Albanian riots (taking advantage of the fact that Italian soldiers
didn't receive any orders whether giving the territory to the Allies or
asking for help to the German soldiers in Yugoslavia). When Italy
surrender to the Allies, the German Wehrmacht in the Balkans invaded
Albania in September 1943, replacing the Italian administration for a
German militar authority till October 1944. There are banknotes of 5
Albanian francs, 20 Albanian francs and 100 Albanian francs and later
banknotes of 2 lekë, 5 lekë y 10 lekë.
This
banknotes worth 5 Albanian francs was first circulated in 1939.
On the main side right it can be seen the written value of the banknote and the name of the National Bank in Albanian (Banka Kombëtare e Shqipnis) and in Italian (Banca Nazionale D'Albania) over a 5. There are four 5's, a gap for the digital watermark and a text in both languages saying that who makes or uses fake
banknotes will be punished.
In the
back part of the banknote it can be seen Albanian coat of
arms' eagle in the left and in the upper and lower part, the written value of the banknote in Albanian and Italian surrounded by two fascis, with the National Bank's acornym in Italian.
Moreover it has floral and fruit patern decoration. This banknote has the portrait of Victor Emmanuel III of Italy
as digital
watermark. The size of this banknote is 13.1 cm x 7.1 cm.
This
banknotes worth 20 Albanian francs was first circulated in 1939.
On the main side center it can be seen the written value of the banknote and the name of the National Bank in Albanian (Banka Kombëtare e Shqipnis) and in Italian (Banca Nazionale D'Albania). There are two gaps for the digital watermark, National Bank's acornym in Albanian's acornym and decorative elements, completed with the godness Roma (alegoric godness of Rome) and the Capitoline Wolf (she-wolf which suckling the twins founders of Rome).
In the
back part of the banknote it can be seen Albanian coat of
arms' eagle and in the upper and lower part, the written value of the banknote in Albanian and Italian, with a text in both languages saying that who makes or uses fake
banknotes will be punished.
Moreover it has four 20's in the corners and floral and fruit decoration. This banknote has the Skanderbeg's portrait in the right and in the left has the portrait of Victor Emmanuel III of Italy
as digital
watermark. The size of this banknote is 18.8 cm x 10.5 cm.
This
banknotes worth 10 lekë was first circulated in 1941.
On the main side center it can be seen a gap for the digital watermark and the Albanian coat of arms' eagle.
In the left appears a 10, the written value of the banknote and the name of the National Bank in Albanian (Banka Kombëtare e Shqipnis)
and in the right, another 10, the written value of the banknote and the name of the National Bank in Italian (Banca Nazionale D'Albania).
The
rest of the banknote has eight 10's in the upper and lower part and decorative elements.
In the back part of the banknote it can be seen in the right Albania's
coat of arms during the Italian occupation and in the right, Italia
turrita (alegoric godness of Italy).
Moreover it has the written value of the banknote in the upper part and in the lower, a text in both languages saying that who makes or uses fake
banknotes will be punished, plus a 10 and fruit decoation. This banknote has the portrait of Victor Emmanuel III of Italy
as digital
watermark. The size of this banknote is 9.8 cm x 6.1 cm.
5 Albanian francs (pesë franka/cinque franchi)
This
banknotes worth 5 Albanian francs was first circulated in 1939.
On the main side right it can be seen the written value of the banknote and the name of the National Bank in Albanian (Banka Kombëtare e Shqipnis) and in Italian (Banca Nazionale D'Albania) over a 5. There are four 5's, a gap for the digital watermark and a text in both languages saying that who makes or uses fake
banknotes will be punished.
In the
back part of the banknote it can be seen Albanian coat of
arms' eagle in the left and in the upper and lower part, the written value of the banknote in Albanian and Italian surrounded by two fascis, with the National Bank's acornym in Italian.
Moreover it has floral and fruit patern decoration. This banknote has the portrait of Victor Emmanuel III of Italy
as digital
watermark. The size of this banknote is 13.1 cm x 7.1 cm.20 Albanian francs (njizet franka/venti franchi)
This
banknotes worth 20 Albanian francs was first circulated in 1939.
On the main side center it can be seen the written value of the banknote and the name of the National Bank in Albanian (Banka Kombëtare e Shqipnis) and in Italian (Banca Nazionale D'Albania). There are two gaps for the digital watermark, National Bank's acornym in Albanian's acornym and decorative elements, completed with the godness Roma (alegoric godness of Rome) and the Capitoline Wolf (she-wolf which suckling the twins founders of Rome).
In the
back part of the banknote it can be seen Albanian coat of
arms' eagle and in the upper and lower part, the written value of the banknote in Albanian and Italian, with a text in both languages saying that who makes or uses fake
banknotes will be punished.
Moreover it has four 20's in the corners and floral and fruit decoration. This banknote has the Skanderbeg's portrait in the right and in the left has the portrait of Victor Emmanuel III of Italy
as digital
watermark. The size of this banknote is 18.8 cm x 10.5 cm.10 lekë (dhjetë lekë/dieci lek)
This
banknotes worth 10 lekë was first circulated in 1941.
On the main side center it can be seen a gap for the digital watermark and the Albanian coat of arms' eagle.
In the left appears a 10, the written value of the banknote and the name of the National Bank in Albanian (Banka Kombëtare e Shqipnis)
and in the right, another 10, the written value of the banknote and the name of the National Bank in Italian (Banca Nazionale D'Albania). 
The
rest of the banknote has eight 10's in the upper and lower part and decorative elements.
In the back part of the banknote it can be seen in the right Albania's
coat of arms during the Italian occupation and in the right, Italia
turrita (alegoric godness of Italy).
Moreover it has the written value of the banknote in the upper part and in the lower, a text in both languages saying that who makes or uses fake
banknotes will be punished, plus a 10 and fruit decoation. This banknote has the portrait of Victor Emmanuel III of Italy
as digital
watermark. The size of this banknote is 9.8 cm x 6.1 cm. 
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