Kosovo: Changes to BPK Regulation expected

Prishtinë, Jul 16, 2006 – Lajm reports that a new regulation of the Banking and Payment Authority (BPK) that is expected to be signed by UNMIK soon will not change current activities of BPK.

“The new regulation of BPK has not been signed yet,” said UNMIK Pillar IV Chief, Joachim Ruecker. Moreover, Ruecker said it is not about a new document that is to replace the existing one. “In fact, the current regulation will undergo some changes. As a result, local representatives will have a greater role.”

According to Ruecker, these changes will mainly be related to the Board of Directors composition and the way its members will be appointed. Ruecker also said these are no major changes but a preparation for the post-status period.

“Following the changes being made to the regulation, BPK will have a structure which will be easily transformed in the post-status period,” Lajm quotes Ruecker as saying.

According to Ruecker, BPK’s functions will remain the same: it will focus on the financial system, in particular in the banking system; it will have no responsibility in terms of monetary policies.

BPK officials made no comment on these changes. “The regulation has not been endorsed yet; therefore we can not comment on it,” Shkendije Himaj-Zekaj, BPK Spokesperson said.