Ramaj is currently impressing on-loan this season with Heidenheim.
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He moved to Dortmund in January from Ajax, penning a deal to 2029.
The Mirror says Arsenal have been scouting Ramaj in the event they lose Kepa Arrizabalaga next year.
Kepa has managed just two appearances after arriving from Chelsea last summer and has been acting as cover for David Raya.