11 minutes agoHere's where Kosovars store gold, don't trust banks
Periskopi(8 years ago)
(8 years ago)Kosovo citizens possess various amounts of precious metal, including gold, but that this product continues to be stored in their homes. Even though commercial banks in Kosovo on legal basis, apart from financial means, preserve valuables, so far no one has received “guxing” to ensure the gold is provided in [...]
Kosovo citizens possess various amounts of precious metal, including gold, but that this product continues to be stored in their homes. Even though commercial banks in Kosovo on legal basis, besides financial means, preserve valuables, so far no person has received “gutation” to ensure that gold is provided at these institutions.
One of them is Blerina from Pristina. She even says that there is no information about the possibility of preserving this product in institutions.
I have gold, not in large quantity. I keep it at home. I don't know if I can keep it in banks. No, I don't. I use it from time to time”, says Blerina.
But Albana from Mitrovica does not believe that valuables are stored in commercial banks.
I bought a lot of gold, but I bought gifts from my family. I don't trust banks to save the gold. I never sent it”, Albana says.
Even Kosovo Central Bank officials show that neither of these reserves are held in the institution so far.
The statement Ahmeti, spokesman at the Central Bank of the Republic of Kosovo,(BQK) tells Radio Free Europe, “that the law allows the CEC to allow that, under specific conditions, confirm its spatial possibilities, to offer qualified parties the preservation of the articles (extracies) in Trio for certain periods (which may be also in gold or precious metals). The tariffs for this service are said to be symbolic”, Ahmeti says.
This decision, according to him, only deals with approval and with determining conditions by the CEC Executive Board.
However, financial experts say that this issue is related to the tradition of citizens who find valuables, such as money and gold, to secure them in their homes.
Even so, Nazmi Mustafa, director at International Management College “Globus”, for Radio Free Europe, says financial institutions have not yet gained the trust of citizens to take such an action.
This action still does not apply well enough. And it takes a lot of credibility to the CEC, which, in my opinion, has not yet happened. But to believe that this will happen will begin such a process. And, in practical terms, a reliable institution in Kosovo will also be won where people for such things as a family and heir value, to guard in the BQC”, Mustafa says.
Otherwise, the Law for the Central Bank of the Republic of Kosovo gives the right to maintain international reserves of gold or other precious metals, but currently none of these reserves currently hold the CEC.
