Cooperation between banking institutions and state agencies is essential for the advancement of digital services

29.06.2022, Prishtina

The Kosovo Banking Association hosted a meeting with the Civil Registration Agency (CRA) to discuss further cooperation to advance digital services. Current technologies have put an end to the need to go in person to the bank to use financial services. In this regard, the legal requirement that obliges Kosovo banks to update their client data on a regular basis and in accordance with the regulations in force, was discussed. This requirement has caused operational difficulties, and often it has also become a burdens for citizens who are obliged to go in person to their bank to update their data.

In order to digitize this process, Kosovo Banking Association and CRA representatives have coordinated actions to enable this as soon as possible. Based on the conclusions from this meeting, it is expected that this development will make life much easier for the citizens of the country, while also enhancing the enforcement of relevant legal requirements.

The KBA is asking relevant stakeholders to provide support in this process, as it benefits citizens by enabling them to perform these obligations remotely, while Kosovo would climb the ranking to join countries that enforce laws and regulations related to Prevention of Money Laundering. An additional benefit would be that the various payments, including the various social assistance schemes run by the Government of Kosovo, would be transferred with fewer errors in bank client data.