13/05/2008

On May12, 2008, 10:00 hours, at the premises of the Central Banking Authority of Kosova was held the ceremony of MOU signing between the Turkish Banking and Regulation Supervision Agency (BRSA) and the Central Banking Authority of Kosova.

The MOU was signed by the BRSA Director and the Head of delegation consisted of four members, Mr. Tevlfik Bilgin, and by the CBAK Managing Director Mr. Hashim Rexhepi.

Therefore, signing of the Memorandum of Understanding with the Turkish Banking and Regulation Supervision Agency (BRSA) follows the course of memorandums signed with financial institutions in the region: the MOU with Bank of Albania, the MOU with Macedonia National Bureau, MOU with Croatia Insurance Bureau and MOU with Bank of Slovenia.

BRSA from Turkey is a public legal entity having an administrative and financial autonomy responsible to safeguard the depositors’ rights, to ensure sound and effective operation of banks and to ensure efficient functioning of credit system.

The signing of the MOU between Turkish BRSA and the CBAK based on the “Basel Committee” document of 1997 is achieved the main goal that is to establish a co-operation between the Authorities in order to facilitate the effectives of the supervision. This supervision is achieved through the information exchange starting from the development of banking systems of signed parties to continue with the advices on deposit guarantee scheme including also opening of new banks in respective countries.