Investigations into Kosovo banks warned

This issue has been raised as problematic for the past week at the joint meeting that Kosovo Central Bank Governor Neime Binaku-Isufi's task leader, the Nrbajas Union, and the head of the Kosovo Competition Authority.

During this meeting, Nrbako has asked the Competition Authority to look at the cases, where there are complaints from nonbank financial institutions about limiting economic activity, which are being caused by several banks.

However, by the Kosovo Competition Authority, they have confirmed to the Economic Bulletin that so far the same has not accepted any complaints from these financial institutions. However, they are willing to say that in cases when they accept such complaints, they will act immediately in co-operation with the CEC for handling these cases.

We as authorities have so far received no complaint from IFJBs licensed by the CEC. It is known that this market has a regulator, so the BQC, which, as such, is tasked with overseeing/directing the financial activity of operators on this market. Once we accept the information from the complainers, in co-operation with the CEC we will start addressing the case under the competition protection law”, the AKK has said.

According to the Competition Authority, any conduct of companies in the market that can fall below the mandate of the Authority will be part of the review and assessment of the Authority, as they say, the task of the Competition Authority is to protect free competition in the financial market by prohibiting competition between licensed subjects, preventing abuse of dominant positions and preliminary control of concentrations.

Otherwise, during the high-profile meeting, the Governor's task leader, Bashkiba Nuboro, had stressed that closing nonbank financial institutions unilaterally is not a good practice, especially when there is not enough reasoning.

Meanwhile, the chairman of the Competition Authority, Neime Binaku Binoufi, had said on that day 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.

Unlike the authority, they say that after accepting the request or initiative for the start of the procedure, or ex officio, they can act after preliminary review of the situation in a market. Under that, the Authority stresses that there is discretion to assess whether there is public interest or there are conditions for starting the procedure against a company, and then starts the procedure against the company. /Economic Bouletin