a minute agoPolice action in the north, where some 75 million dinars were confiscated, BQK: Operation of financial institutions without license is illegal and illegal
Periskopi(2 years ago)
(2 years ago)Kosovo police on Monday have held an action in the country's north, where six illegal units of “Savings Post Bank” were closed, as well as seized various material evidence including 75 million dinars (about 640 thousand euros). Linked to this by the Central Bank of the Republic of Kosovo stressed that under legislation [...]
Linked to this by the Central Bank of the Republic of Kosovo stressed that under legislation in effect, the operation of financial institutions without license is illegal and illegal.
“Rather, it conflicts with Law No. 03L-209 for the Central Bank of the Republic of Kosovo, Law No. 04/L-093 for Banks, Microfinancial Institutions and Jobankare Financial Institutions, Law No. 04/ L-155 for the Paying System as well as relevant regulatory instruments.
The legislation is clear that, no one can handle the activities of a bank or financial institution without valid licenses issued by the CEC (BEC Law Article 5 of the Bank) and how the payment institution can operate only an institution to which the CEC has been granted authorization (2.19 of the Law for the Paying System)”, says in the BQK's response to Television.
In addition, the CEC stresses that it is a constitutional institution with certain legal authorisations and duty, besides having to regulate, license and oversee financial institutions, until it implements its goals to maintain a stable financial system and a secure, sustainable and efficient payment system.
“Therefore, cannot comment on the work of law enforcement institutions, while ready to co-operate with state institutions in implementing legal legitimacy in the country according to legal competencies”, the CEC notes.
