Governor Ismaili discloses the requirements and expectations from non-banking financial institutions with lending activity

15/11/2023

The Governor of the Central Bank of the Republic of Kosovo, Ahmet Ismaili hosted the managers from non-banking financial institutions with lending, leasing and factoring activities, where they discussed about developments, challenges and perspective of the market development in the country.

The review of the legal and regulatory framework and the enhancement of the business model in order to expand the offering of products in function of the comprehensive approach to the service of citizens, competitiveness and efficiency, were part of the discussion.

In addition, in the meeting is also discussed about the increase in quality in corporate governance, the criteria for the key positions appointment, the limitations on the risk of concentration and financing with affordable conditions.

Some of these legal requirements will be part of the new underway law on non-bank (micro) financial institutions with lending activity, which among other things will enable the profiling and consolidation of financial institutions, standardizing the licensing, their supervision and regulation.

In the end, Governor Ismaili conveyed the message and expectations of the Central Bank of the Republic of Kosovo from non-banking financial institutions with lending, leasing and factoring activities, to be in compliance with legislation and sound business practices in function of stability and support of economy, as CBK objectives.