UNMIK/PR/90
PRISTINA – Bernard Kouchner, the Special Representative of the Secretary-General has signed regulations which provide for an efficient payment and a sound banking system to strengthen the economy in Kosovo.
The Banking and Payments Authority of Kosovo (BPK) will help restart the payments process by creating a depository for the Central Fiscal Authority (CFA) and other parts of the interim civil administration of UNMIK. The CFA, established earlier this month, is responsible for the overall financial management of the Kosovo Consolidated Budget.
The BPK will also create depositories for foreign donors and banks licensed to operate in Kosovo. In addition, the BPK will issue licenses to banks, both domestic and foreign, that meet the pre-determined criteria. A Bank Supervisory and Regulatory Department within the BPK will develop rules and provide the overall supervision of banking activities in Kosovo.
The SRSG has named Nick Brentall as the Interim Managing Director of the Banking and Payments Authority of Kosovo. Jimmy F. Barton has been appointed as the Interim Head of the Bank Supervisory and Regulatory Department.
Representatives of banks and financial institutions interested in applying for a bank license may do so by contacting the Bank Supervisory and Regulatory Department directly at (381-38) 501-396, 397, 398, 399 or 400, extension 5622.
Organizations or individuals currently operating banking facilities in Kosovo have 30 days from 15 November to file for a license or must cease operating in the territory.
