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Central Bank of Kosovo to issue treasury bonds

17. March 2010. | 16:49

Source: ECIKS

A draft law approved by the Kosovo Government allows the Central Bank of Kosovo (CBK) to issue treasure bonds in order to support economic policies.

A draft law approved by the Kosovo Government allows the Central Bank of Kosovo (CBK) to issue treasure bonds in order to support economic policies.

The draft law is expected to be submitted for approval to the Kosovo Parliament.

Economy and Finance Minister Ahmet Shala said that the draft law for the CBK is modern and contains all necessary elements of legislation, in accordance with the Treaty of the European Commission, and is in harmony with the European system of central banks.

According to Minister Shala, this draft law allows the creation of legal basis for the adoption of other laws in the field of finance, which will complete the legal framework for the construction and development of the banking system and the insurance system in Kosovo.

The draft of the CBK law also determines ways of electing the board of directors, executive board, issuing and revoking bank licenses, as well as methods of intervention in emergency cases when a commercial bank may face difficulty.

CBK is the highest financial institution in Kosovo, which controls the licensing and supervision of banks, insurance companies and private pension schemes.

According to IMF experts, banking system in Kosovo is considered one of the safest in the region.


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