Monego reacts after the CEC's decision on liquidation: We'll head for the court.

Microfinancial institution MONEGO has called the removal of the license illegal and violent action on an investor.

MONEGO stresses that this decision has been announced by the Kosovo Central Bank today.

Read full response from the MONEGO shareholder:

“Today we have been informed about the CEC's decision to remove the license for MONEGO.

We were informed of the decision through a press release and were unable to see for ourselves.

We are more than sure that we are fully in accordance with the law and all regulations of the CEC.

We've always been cooperative with the BQC in providing all the information and making all the changes required to be fully consistent with the rules in force.

As a European investor, we invest and develop Fintech companies and through MONEGO we make the spread and distribution of European venture thinking and values to the local business environment transparency, rule of law, open dialogue with interested parties.

We are looking strongly to approach international regulatory authorities to get involved in this, like the World Bank, the Foreign Investors Council and EU institutions.

The process of removing the license and launching the liquidation process confirms that we have disturbed someone's interests here and the will is to get MONEGO out of the market.

Of course, if this is to be achieved, the only ones who suffer will be the people of Kosovo, whom we offer financial involvement, access to financial services throughout the country.

The previous creation of the black campaign -- which was in some Kosovo media against us -- was the first step of this major campaign. We had a fair decision by the Kosovo Media Council and the media that wrote on this issue withdrew all content by recognising it as the real No. Now removing the license is just another step in this attempt to get MONEGO business out of the market with illegal methods.

The entire process currently under way seems to be a total hostile attack and brutal war on foreign investment in Kosovo, it seems that a politically motivated decision led by illegal methods.

Once we finally have the CQ's decision, we'll go to the court, because the sentence is not due.

This is a very strong and negative message for every EU investor, that investments in Kosovo are not safe”.

As a company, we have contributed a lot to Kosovo's local economy in these two years and the figures below testify to this:

• 254 employed persons
• 33 branches opened throughout the country
• 5m euros in salaries for employees
• 400 thousand euros rent to owners
• 600 thousand euros on taxes ( VAT and WHT)”