Governor Ismaili met the Minister for Communities and Return, Nenad Rashiq

The Governor of the Central Bank of the Republic of Kosovo, Mr. Ahmet Ismaili, received the Minister for Communities and Return in the Government of the Republic of Kosovo, Mr. Nenad Rashiq.

During this meeting, Governor Ismaili informed Minister Rashiq about the latest changes in the Regulation on Cash Operations, clarifying the main aspects, effects and arguments for its position.

It was also discussed about the existing opportunities, alternatives and access to finance through various financial channels licensed for operation throughout the territory of the Republic of Kosovo.

Furthermore, it was clarified that the Regulation in question does not prohibit or restrict the acceptance of funds into euro-denominated bank accounts in licensed banks, nor does it limit the exchange activity of any currency carried out by banking or non-banking financial institutions licensed by the CBK. Therefore, all individuals have access to bank accounts and can accept funds in their accounts in Euro, through various legal channels.

So, all citizens who already have a euro-denominated bank account in any licensed bank in Kosovo can use it to receive funds from any country. While, those who do not yet have an account, can open one in any bank according to the CBK’s Regulation on Access to Payment Accounts for Basic Services, which, starting from 1 January 2024, has no fees for opening or maintaining accounts for vulnerable groups and social schemes.

Also, Governor Ismaili informed Minister Rashiq that there are four bank branches, three microfinance institutions (creditors) and over 15 non-banking financial institutions for payments and exchange operating in the four northern municipalities. The number of branches and offices of financial institutions operating in that area is increasing, as financial inclusion is the goal of the CBK.

Governor Ismaili said that the CBK remains determined to advance the legal and supervisory framework in the implementation of its constitutional mandate and that it remains committed to continue with information and awareness activities for the public.

Governor Ismaili and Minister Rashiq express their willingness to expand cooperation in order to provide the most complete and adequate information to facilitate the successful implementation of the requirements of local legislation.