Governor Ismaili discusses the financial sector and plans for its advancement with AmCham members

Pristina, December 18, 2023 – Performance of the financial sector in Kosovo, the plans of the Central Bank of the Republic of Kosovo for 2024 and beyond, the advancement of legislation in the financial area were topics of discussion between members of the American Chamber of Commerce and Governor Ahmet Ismaili, in a Breakfast for Executives.

The Executive Director of the American Chamber of Commerce, Arian Zeka, thanked Governor Ismaili for his willingness and sincerity to discuss with representatives of the private sector, offering also the readiness of the AmCham for constructive dialogue with the Central Bank of the Republic of Kosovo.

Governor Ismaili appreciated the opportunity to discuss with representatives of the private sector as important, in order to understand as correctly as possible concerns that they may have, being significant contributors to the country’s economy and the financial sector. He also spoke about a good culture of accountability and loan repayment in Kosovo, which is also reflected in the low rate of non-performing loans. The governor emphasized the achievements within the financial sector, announcing and specifying the indicators of liquidity, capitalization, the ratio between loans and deposits as well as other relevant indicators, in accordance with the regulatory framework.

He said that the activities of the Central Bank for 2024 and the following years are based on the new five-year strategy of the institution he leads, whose priorities include digitization, instant payments, increased competition in the sector, access in finance and a comprehensive policy. Membership in the Single Payments Area of the European Union (SEPA), Kosovo’s listing on global electronic payment platforms, as well as the possibility of being equipped with the Green Card, were issues that were also discussed. The governor also invited the business community to identify possible and collaborative solutions to address current challenges and issues in the interest of the country.

The governor spoke highly of the important role of the U.S. Government in strengthening the Central Bank of Kosovo and the smooth running of the activities within the financial industry in the country. In this regard, he also mentioned the initiative for obtaining the credit assessment of Kosovo, which is being done with the support of the United States Agency for International Development (USAID). USAID is also helping in the development of capital markets, according to the Governor.

Governor Ismaili also spoke about the plans to promote the reduction of the use of cash in daily transactions, starting from those with the lowest values, for which he said that incentives should be found among consumers, which in addition to other benefits, also helps in fighting of informal economy.