a minute agoGovernment blocks Bill for Banks, they behave as in father's Bahche
Periskopi(4 years ago)
(4 years ago)“In times of crisis banks increase their profit”. “has increased the bank account maintenance price”, “A bank has removed almost all ATMs in town”. These and many other sentences are often heard about banks in Kosovo. All because the CQK doesn't have enough control over them. The law that would give power more [...]
The law that would give greater power to the Kosovo Central Bank to control banks in their actions has been stopped by the Government of Kosovo. Periscope has learned that the Ministry of Finance has deliberately blocked the draft bill due to the trouble it has emerged in the current BEC leadership structures.
It is important changes in the document that connect to consumer protection in a sense of banking and financial products and services.
“in 2019 BQK has drafted the Law for Banks, which has been processed for further approval at the Ministry of Finance. To that end, the Ministry of Finance, Labour and Transfers has already appointed a team responsible for drafting and finalising the Bill for Banks”, the CEC's statement on Periscope said.
Asked further why there is so much delay in further proceeding of the Bill, the BEC has said that “the response should be sought at the Ministry of Finance, Labour and Transference”.
For several days Periscopi has been leading questions at the Ministry of Finance, Labour and Transfers, which is led by Iron Murati, but this institution has not returned.
According to the CEC, the draft Law for Banks has been attended by the working group established under their institution, in close co-operation and co-ordination with international ones like the American Treasury Office, International Monetary Fund (FMN) and the European Bank for Reconstruction and Development (BERZH)”.
What are some of the major amendments to the Bill promoting greater control of banks
The Bank's “Bill on Banks has been upgraded to the current international standards in the banking field and reflects the requirements set by institutions establishing international regulations such as the European Union, Basil, etc. In addition to the existing responsibility of the CEC for licensing, regulation and supervision of banks, the bill defines the CEC as both the responsible authority for the aspect of macro-graditional supervision, recovery and closure, as well as consumer protection in terms of consumers and banking services, and financial. The most important changes in the Bill are related to the post of recovery and closure, widely used by the European Union”, is said to be further in the CEC's response to Periscope.
Kosovo citizens for the first four months of this year have filed 305 complaints to the financial industry at the Central Bank of Kosovo, among them 164 complaints have been admitted to the banking sector.
In Kosovo, 11 licensed banks operate, out of which are nine. Referring to BQC data, only in April, their revenues have been worth 111m euros. Interest revenues have had 80m euros, while expenses have been worth 67m euros. Net profit was 44.6m euros. / P ERISCOPI/
