2 minutes agoIMF praises adoption of BQK's cash ready
Periskopi(2 years ago)
(2 years ago)The Central Bank of the Republic of Kosovo (BQK) has announced it has received high praise from the International Monetary Fund (FMN) after the successful completion of the second review of Stand programmes - By Environment (SBA) and Resilience and Substatic Security (RSF). According to the announcement issued by the CEC, the IMF review highlights the BEC's commitment to ambitious reform [...]
The Central Bank of the Republic of Kosovo (BQK) has announced it has received high praise from the International Monetary Fund (FMN) after the successful completion of the second review of Stand programmes - By Environment (SBA) and Resilience and Substatic Security (RSF).
According to the announcement issued by the CEC, the IMF review highlights the BEC's commitment to ambitious institutional reform, including new regulations adopted.
“The IMF has praised the Central Bank's approval of the Republic of Kosovo's new Pre-Professive Operations as important for improving the payment system, strengthening control over currency flow, fighting counterfeit money and preventing money laundering and financing terrorism. The regulation in question regulates the use of the euro as the only legal currency for payment, prohibits the functioning of unlicensed financial institutions, and the decuconion of large cash transactions by preventing banknotes from recycling of 500 euros”, the report said.
The IMF's “assessment also acknowledges that the banking system remains sound, banks are well capitalised, well-advised, highly liquidated and profitable. Non-forming loans (NPL) have remained low, and real credit growth, especially in the lending of family economies has been adequate”.
