Banks in Kosovo close non-bank financial institutions

The BEC Governor's task leader, Bashkim Nuboko, has, in this case, suggested that the CEC is aimed at protecting competition, always in the spirit of co-operation between the two institutions.

During this meeting, special emphasis was also given to the poor practice that some banks are already doing in Kosovo, such as the closures of accounts of some non-bank financial institutions on the part of banks in the country.

Nurboro has asked the Competition Authority to look at cases, where there are complaints from non-bank financial institutions about limiting economic activity, which are being caused by several banks.

According to him, the unilaterally closing of non-bank financial institutions on the part of some banks is not good practice, especially when there are not enough reasoning.

Meanwhile, the chairman of the Competition Authority, Neime Binaku Binnufi, stressed that the main objective of competition policy is to preserve the competitive process and promote effective competition in the market.

According to her, maintaining or promoting effective competition is necessary, given the restrictions that the private or public sector can make.

As Binaku-Isufi says, Kosovo's competition law prohibits deals on price fixing, abuse with dominant power, and concentrations that threaten to create a dominant market position. /Economic Bouletin