Reporting guidelines for banks,MFI dhe NBFI

Based on the best practices of the European Union countries and to further enhance the function of banking supervision, the Central Bank of the Republic of Kosovo, with the support of the World Bank has created a new reporting framework on Banks, Micro financial Institutions and Non-Bank Financial Institutions with lending activity. In this regard, new reporting format are drafted and new reporting software for “on-line” reporting is designed, as well as are issued guidelines for reporting of these institutions. The new reporting framework is in line with the International Financial Reporting Standards (IFRS) and the Legal and Regulatory Framework of the CBK. In order to facilitate reporting, the CBK has issued reporting guidelines under which financial institutions shall submit to the Department of Banking Supervision the reporting set of forms regarding their financial status, capital adequacy and operational activity. The new reporting framework will facilitate the function of reporting to a more efficient reporting, enabling the development of an effective approach based on risk that constantly monitors various types of risks financial institutions are exposed to and will assess the extent to which banks are affected by current events. Furthermore, the new reporting framework will enable improvement of early warning reporting system, which allows the CBK to take proactive measures to ensure the safety and soundness of the financial sector.