“Ziraat Bank” Director hid Serbian citizenship from BQKA

The director of one of ten licensed commercial banks in Kosovo owns Serbia's citizenship, which he has not declared before regulatory authorities.

Kenan Bozkurt, Turkish banker and executive director of Ziraat Bank Kosova Sh.A., has citizenship of the Republic of Serbia since 2018, official documents show.

Paparac has secured the identification document issued by Serbia's Interior Ministry for Kenan Bozkurt. The document is valid until 2028.

Before the highest leader of Ziraat Bank Kosova St was appointed. A, Bozkurt worked for about seven years in Serbia. From 2015 to 2022, he exercised the position of chairman of the Halkbank Bank Board in Belgrade. Like Ziraat Bank Kosova S.A., Halkbank is in the Turkish state-owned institution.

A Paparac investigation has revealed that he has not declared his Serbian citizenship at the Central Bank (BQK), the institution that regulates and supervises the banking sector in the country, even though it is binding under the Law.

The law and regulations in force force senior bank leaders to declare all citizenship they possess during the process of adopting managerial positions. This process, known as the assessment “Fit and Proper”, includes complete verification of the professional past and the integrity of candidates for leadership positions in banking institutions.

The questionnaire “Fit and Proper” for Directors and High Managers obliges them to submit “all citizenship currently owned” and data submission for each citizenship.

According to BQK regulations, the leaders must be “and proper”. All interests and relevant ties must be declared. Any citizenship should be reported.

Bozkur, however, has ignored such obligations. He has tried to deceive Kosovo authorities.

In an official communication last month, the Kosovo Central Bank confirmed to Paparac that Ziraat Bank United States executive director. has declared no citizenship other than Turkish.

“According to documentation submitted during the approval process, for director of the Kosovo branch of Ziraat Bank, part of the Ziraat Bank in Turkey, as a public-owned (state) bank, the bank's respective organs in Turkey, as owner of Mr. Kenan Bozkurt, have declared only Turkish Republic citizenship, as well as its experience in several states including those in the region”, the Central Bank of Kosovo said in a written answer to Paparacin April 8.

The institution responsible for overhauling the banking sector in the country said it does not have other information on the citizenships of the director of Zirat Bank U.S.A., on the sidelines of those declared during the process of approval for top leadership positions.

So there was no evidence or information there that you own citizenship other than what it submitted to official forms. Consequently, as it comes to a head of a foreign bank branch (owned by state), where regulatory requirements were lower because of the fact that the main management responsibility falls on the mother's bank bodies, decision is based on information provided under the application and in line with the regulation in force for managerial positions”, the BQK said.

Hide of citizenship “can be considered fraud against regulatory authority”, according to BQK regulations.

And, the CEC has launched an investigation into the case, confirmed the Central Bank's Media Office in written answers to Paparaci last month.

“However, the issue that you have raised regarding claims not to disclose full information on second citizenship, will be subject to additional verifications and related address from the CEC, if they are considered important in the eligibility qualifications of top managers, especially with new requirements of the new Law for Banks, which has entered into force from January 27th, 202618x1>, the BQ said.

Director Bozkurt's act may have implications in the process of transforming “Ziraat” from foreign branch to fully founded and licensed bank as independent in Kosovo.

By 2025, the bank owned by the Turkish state operated as a foreign banking branch in Kosovo under the name “T. Ziraat Bankasi A.S. The branch in Kosovo”. Now one year, the institution is in the process of transforming as a bank founded in Kosovo (Ziraat Bank Kosova Sh.A).

Under this process, the institution should get the approval of the CEC for individuals appointed to the leadership position.

“During this process, complete management bodies must be named according to the requirements for banks founded in Kosovo (which are much more content compared to those applied to branches of foreign banks)”, according to the CEC.

Paparac has been seeking clarification from Ziraat Bank Kosova S.A last month for the reason why her executive director's non-recognition of Serbian citizenship near the CEC has not yet received answers from the institution.