The Central Bank of Kosovo, in order to provide additional information in a simple and understandable way for the citizens of Kosovo, has launched an awareness campaign for the Regulation on Cash Operations, which entered into force on February 1.
In an explanatory video with 7 questions, it is shown what this Regulation provides, such as the procedures for handling and withdrawal from circulation of euro banknotes and coins and other currencies suspected of being counterfeit.
The Regulation in question has also defined the criteria for exchange of damaged euro banknotes and coins, as well as the conditions for cash payment transactions.
This Regulation does not prohibit or limit the receipt of funds in bank accounts, in Euros, in licensed banks, nor does it limit the exchange activity of any currency carried out by financial institutions, whether banking or non-banking, licensed by the CBK.
Therefore, all individuals have access to bank accounts and can accept funds in their accounts in Euro, through various legal channels.
So, all citizens who already have a bank account in Euro, in any licensed bank in Kosovo, can use the same to receive funds from any country.
Whereas, those who still do not have an account can open one at any bank, according to the CBK Regulation on Access to Payment Accounts with Basic Services, which for vulnerable groups and social schemes has no opening fee nor of maintenance, since January 1, 2024.
Only in the four municipalities in the north of the country, there are four bank branches, 3 micro-financial institutions (lending), as well as over 15 non-banking financial institutions for payments and exchange. The number of branches and offices of financial institutions operating in that area is increasing, as financial inclusion is the objective of the CBK.
In order to provide additional information in a simple and understandable way for the citizens of the Republic of Kosovo, the Central Bank of the Republic of Kosovo launched the TOLL-FREE line 0800 222-55.
This line is dedicated to citizens of Serbian community who live in the Republic of Kosovo and need to be informed correctly and concretely.
