Includes special features of this country’s banking system and rules/laws that might impact U.S. business.
Last Published: 2/26/2019

Kosovo uses the euro as its national currency even though the country is not a member of the European Central Bank and has no independent monetary policy of its own.

Kosovo’s banking system is well regulated, profitable, and liquid.  The Central Bank of Kosovo (CBK) is an independent public agency with the authority to license, supervise, and regulate financial institutions and insurance companies in Kosovo.  The CBK has adopted banking rules and regulations in line with the Basel Accords and EU directives.

Ten commercial banks operate in Kosovo, representing 65.5 percent of total assets in the financial sector, eight of which are foreign-owned and comprise about 88.1 percent of total banking system assets.  Two domestic banks account for the remaining 11.9 percent.  Commercial banks account for 65.5 percent of financial sector assets.  Pension funds (28.0 percent), insurance companies (3.0 percent), and other financial intermediaries comprise the rest.  In December 2016, financial-sector assets amounted to €5.91 billion, recording an annual growth rate of about 10 percent.

Neither the banking sector nor local commercial enterprises are sufficiently capitalized to finance large investment projects.  In 2017, new investment loans represented 34.2 percent of total new loans issued during that period.  As of December 2017, approximately 77.2 percent of bank loans have maturities of two years or more, with maturities of two to five years accounting for 35.3 percent of loans.  Nearly 63.6 percent of loans are directed towards enterprises and 4.3 percent towards the agricultural sector.  Transferable deposits represent 48.4 percent of banks’ liabilities.
Kosovo signed the Foreign Account Tax Compliance Act (FATCA) with the United States in March 2015.  FACTA is an information-sharing agreement between the GoK and the U.S. Department of Treasury that ensures that American citizens and legal permanent residences with foreign-held bank accounts comply with their U.S. tax obligations.
There are no special rules or regulations that might impact U.S. businesses.

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Kosovo Market Access Banks