Banking Sector, Generator of Sustainable Economic Growth

Pristina, October 24, 2016 – American Chamber of Commerce in Kosovo organized the Breakfast for Executives event with the Governor of the Central Bank of Republic of Kosovo, Bedri Hamza. In this event participant members had the opportunity to be informed about the current state of the financial sector and discuss upon matters which are considered necessary to be improved with the purpose of creating a more stable doing business environment.
AmCham Kosovo Executive Director Arian Zeka praised the cooperation with Central Bank, thus considering that Central Bank of Republic of Kosovo has had an important role in creating a stable banking sector.

Bersant Disha from Recura Financials, also the host of this event, said that the cooperation of the Central Bank with the private sector attracted a great number of investments and created more opportunities for co-financing, be it from commercial banks with or without other partners of the private sector.
However, according to Disha, such cooperation requires creating further regulations to improve the sector of financial services in Kosovo.

The Governor of Central Bank of Republic of Kosovo, Bedri Hamza, said that participating in such events is of a great importance for the fact that the private sector, besides contributing to the budget of the country, contributes also to the creation of new jobs and economic development, as a result. Hamza said that the private sector is characterized with positive developments backed not only by the reports of the World Bank but also by the International Monetary Fund (IMF). These ratings are supported also by the considerable success of the banking sector in Kosovo in the last two years in regards to the increase of the volume of loans, decrease of interest rates and decrease of non-performing loans. Hamza, added that the micro financial sector is significantly consolidated in Kosovo, but the insurance sector needs yet to be improved, and according to him this can be achieved through increasing the dialog and the partnership.

Ardi Shita, Secretary General of the Board of Governors at AmCham Kosovo, appraised the cooperation with the Central Bank, emphasizing that the insurance and other sectors still need to undergo improvements, in terms of creating regulations to assure the well-functioning of such sectors.

Issues raised by AmCham members were generally related to factors that hinder performance of the banking sector, including the need for a better coordination between the financial sector and state institutions, the great number of case backlogs in the courts and the approach to mortgage loans.