Monday, May 13th, the transitional period of three months for the application of the regulations of the Central Bank of Kosovo (CBK), which established that the euro is the only means of cash payment in Kosovo, ends. In the past period, citizens were informed about the application of the Regulation on cash payments.
From today, according to the Regulation, punitive measures will follow for those who do not comply.
At the same time, commercial banks operating in Kosovo were instructed to open new branches in the north.
The decree states that currencies other than the euro cannot be used in Kosovo as physical storage value or in bank accounts, for making international payments, or for foreign exchange activities.
CBK’s plan for the period of application of the Regulation on cash transactions, published on February 12th, states that “it should not last longer than three months”. A few days ago, Prime Minister Aljbin Kurti, when asked what will happen after the end of the transitional phase, said that “CBK is the one who decides on this, not the executive power”.
On February 1st, a new Regulation of the Central Bank of Kosovo entered into force, which foresees the euro as the only currency for payment.
The international community asked Kosovo to postpone the implementation of the Regulation, in order to find a solution for the population in the north of Kosovo – inhabited by the Serbian majority – who were affected by the decision.
Serbs in Kosovo have been receiving payments in dinars from the Serbian budget for years.
A meeting of the delegations of Kosovo and Serbia is scheduled for today in connection with the implementation of the aforementioned CBK regulation.
No agreement was reached in the previous six meetings.
