The Kosovo Banking Association welcomes the approval of the draft law on the establishment of the Commercial Court

24.06.2021, Pristina

The Kosovo Banking Association welcomes the approval of the draft law on the establishment of the Commercial Court initiated by the Ministry of Justice.

On this occasion, the Kosovo Banking Association considered the approval of the draft law on the establishment of the Commercial Court as an important step that would address the shortcomings in the current system for resolving court disputes. In this context, with the establishment of the Commercial Court, the proper functioning of the settlement of commercial disputes through the effective systems of commercial courts would be achieved and would contribute to stability and prosperity. This draft law would also enable sustainable economic development and would promote the confidence of local and foreign investors by respecting the rule of law.

In the absence of a Commercial Court, there are thousands of unresolved cases worth around 100 million euros from the banking sector alone.

The continuous advocacy and contribution of the Kosovo Banking Association, the banking industry, and stakeholders for the establishment of the Commercial Court will favor the economy of our state and the well-being of the citizens of Kosovo.

With the approval of this draft law by the Government, we expect that there will be consultations by the respective parliamentary committee with the private sector to create the legal infrastructure as soon as possible in order to make the Commercial Court functional.