Paper
Amended Rule XIV on the Registration, Licensing and Supervision of Microfinance and Financial Institutions
Requirements for licensing and operation of Kosovo's micro finance and other financial institutions
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6 pages
This Rule applies to those institutions operating in Kosovo that are determined by the Banking and Payments Authority of Kosovo (BPK) to be microfinance institutions (MFI) or financial institutions (FIs). The BPK is solely responsible for the registration of MFIs and FIs.
The rule details the following with regard to various facets of registration, licensing and supervision of MFIs and FIs in Kosovo:
- The information required for applying for registration;
- The terms and conditions of issue of the license, including the non-transferability of the registration and payment of fee;
- The criteria and modalities for withdrawal of registration;
- The requirement for establishing local institutions for operation in the area, especially for foreign or international NGOs;
- Reporting requirements and permitted activities of non-licensed MFIs and FIs;
- Authority for laying out rules of conversion of unlicensed MFIs or FIs to Licensed MFIs, licensed FIs, or banks;
- Prudential requirements and permitted activities for licensed MFIs and FIs.
The Governing Board of the Banking and Payments Authority of Kosovo amended the Rule on April 25, 2002 and adopted it on June 27, 2000.
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