Functions of Central Bank of Kosovo and the need for their advancement

Lluka, Valon (2010): Functions of Central Bank of Kosovo and the need for their advancement.

Abstract

Central Bank of the Republic of Kosova (CBK), was established in June 2008, and is the successor of the Authority of Banking and Payments of Kosovo and the Central Banking Authority of Kosovo.

Main Functions of the Central Bank of Kosovo are:

• Drafting and implementation of monetary policy, • Regulation and supervision of the banking system, • Bank of the Government, • Management of foreign exhange and gold reserves.

Central Bank acts as the Banker, Fiscal Agent, and Economic Adviser to Government. Developing an efficient and safe system for domestic payments is a primary function of the CBK. Creating of Electronic System for Interbank Clearing (SEKN) in 2001, first as a system of interbank payments was a major step forward in terms of facilitating the operations of domestic payments through the banking system. SEKN remains the only system of interbank payments since then, but has been raised significantly functionally in recent years, especially in 2008, aiming at modernizing and enriching ways of conducting transactions. Specifically, in 2008, was passed in web technology platform and developed the Direct Debit scheme.

Facilitating the exchange of information between lending institutions is a crucial and target commitment of the CBK in order to develop interbank infrastructure for credit market advancement and promotion of financial stability.

• Item Type: MPRA Paper
• Language: English
• Keywords: Central Bank, Functions, Banking, Kosovo
• Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit

References

BQK, (2008): Ligji mbi Banken Qendrore të Kosovës fq.1.

BQK, (2008): Raporti vjetor i BQK 2008.

Sulo Hadëri, (2007): “Paraja bankat dhe tregjet financiare”, Shoqata e kerkimeve shkencore sociale-ekonomike(AGAFER) botimi 3.

Enti statistikor i Kosovës, Zyra e punësimit e Kosovës, (2009): “Zhvillimet në eurozonë dhe Evropën Juglindore (EJL).

www.bqk-kos.org-funksionet dhe përgjegjësitë