At the Government meeting held today, the Draft Law on Banks was approved, which aims to regulate the banking and financial activity of banks in Kosovo in order to promote a more stable financial system.
Also, through this draft law, the criteria for the establishment and licensing of banks, their organization and sound management, their observation, recovery, closure and liquidation are regulated.
The Minister of Finance, Labor and Transfers, Hekuran Murati, said that this draft law defines the remedial measures and administrative fines related to the process of recovery, closure and liquidation of banks and branches of foreign banks.
Murati emphasized that with the approval of this law, the requirements for the basic capital for banks have increased to 10 million euros from 7, which was with the law in force.
